Pentair plc (NYSE:PNR) Announces Dividend Increase – $0.25 Per Share

Pentair plc (NYSE:PNR) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Investors of record on Friday, January 24th will be given a dividend of 0.25 per share by the industrial products company on Friday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, January 24th. This is an increase from Pentair’s previous quarterly dividend of $0.23.

Pentair has raised its dividend by an average of 5.0% annually over the last three years. Pentair has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $4.88 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 18.9%.

Pentair Price Performance

Shares of NYSE:PNR traded down $2.30 during midday trading on Tuesday, reaching $105.49. 1,136,996 shares of the company were exchanged, compared to its average volume of 1,516,746. The company has a current ratio of 1.60, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock has a market cap of $17.43 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. The business’s fifty day moving average is $103.47 and its two-hundred day moving average is $91.12. Pentair has a one year low of $68.08 and a one year high of $110.71.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $993.40 million during the quarter, compared to analysts’ expectations of $988.53 million. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. As a group, analysts predict that Pentair will post 4.28 earnings per share for the current year.

Insider Transactions at Pentair

In other Pentair news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total value of $357,615.96. Following the transaction, the executive vice president now directly owns 19,232 shares of the company’s stock, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PNR shares. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Pentair in a research report on Thursday, November 21st. Wolfe Research assumed coverage on Pentair in a research report on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective on the stock. TD Cowen lifted their target price on Pentair from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp increased their price target on Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer raised their price target on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pentair currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.38.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.