Pentair plc Announces Quarterly Dividend of $0.27 (NYSE:PNR)

Pentair plc (NYSE:PNR) declared a quarterly dividend on Monday, September 21st. Shareholders of record on Friday, October 23rd will be given a dividend of 0.27 per share by the industrial products company on Friday, November 6th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, October 23rd.

Pentair has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Pentair has a dividend payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pentair to earn $5.09 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 21.2%.

Pentair Trading Down 0.3%

Shares of PNR opened at $55.78 on Tuesday. Pentair has a twelve month low of $55.27 and a twelve month high of $113.95. The stock has a market cap of $8.90 billion, a PE ratio of 14.02, a P/E/G ratio of 1.43 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 1.45 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $62.93 and its 200-day moving average price is $74.61.

Pentair (NYSE:PNR) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.02. The company had revenue of $932.60 million during the quarter, compared to analyst estimates of $943.24 million. Pentair had a net margin of 16.24% and a return on equity of 20.62%. Pentair’s revenue was down 17.0% compared to the same quarter last year. During the same period last year, the business earned $1.39 earnings per share. On average, equities analysts forecast that Pentair will post 4.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on PNR shares. Zacks Research downgraded shares of Pentair from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 12th. Wolfe Research raised shares of Pentair from a “peer perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a report on Tuesday, September 15th. BNP Paribas Exane reiterated an “underperform” rating and issued a $64.00 price objective (down from $75.00) on shares of Pentair in a research report on Thursday, July 16th. Oppenheimer dropped their price objective on Pentair from $115.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $81.00 target price on shares of Pentair in a research report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Pentair currently has a consensus rating of “Hold” and an average price target of $87.19.

Pentair Company Profile

Pentair plc (NYSE:PNR) is a water-treatment and fluid-management company that develops products and solutions for residential, commercial, industrial and municipal applications. Its offerings are designed to help move, filter, treat and manage water, with an emphasis on water quality, efficiency and sustainability.

The company’s products include pool and spa pumps, filters, heaters, automation systems and related equipment; water softening and filtration systems; and pumps, valves, controls and other fluid-management products.