Pentair (NYSE:PNR) Hits New 52-Week High Following Dividend Announcement

Pentair plc (NYSE:PNR)’s stock price reached a new 52-week high on Tuesday following a dividend announcement from the company. The stock traded as high as $96.60 and last traded at $96.60, with a volume of 305 shares traded. The stock had previously closed at $95.95.

The newly announced dividend which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. Pentair’s dividend payout ratio (DPR) is 24.47%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNR. Oppenheimer increased their price objective on shares of Pentair from $92.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their price target on shares of Pentair from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Northcoast Research downgraded Pentair from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. StockNews.com raised Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Pentair from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $92.87.

Pentair Price Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.65 and a quick ratio of 0.96. The firm has a market cap of $15.97 billion, a P/E ratio of 25.66, a PEG ratio of 1.73 and a beta of 1.20. The company’s 50-day moving average is $86.90 and its two-hundred day moving average is $82.70.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. Pentair had a net margin of 16.05% and a return on equity of 20.39%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that Pentair plc will post 4.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Pentair in the 2nd quarter valued at approximately $25,000. Crewe Advisors LLC boosted its position in Pentair by 376.1% in the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock valued at $26,000 after buying an additional 267 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Pentair during the second quarter worth $48,000. LRI Investments LLC bought a new position in shares of Pentair in the 1st quarter valued at $56,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pentair in the 2nd quarter valued at $67,000. Institutional investors own 92.37% of the company’s stock.

About Pentair

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.