Pentair plc (NYSE:PNR) to Issue Quarterly Dividend of $0.25

Pentair plc (NYSE:PNR) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Friday, April 18th will be given a dividend of 0.25 per share by the industrial products company on Friday, May 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 17th.

Pentair has increased its dividend by an average of 5.1% per year over the last three years. Pentair has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.0%.

Pentair Stock Performance

Pentair stock opened at $93.22 on Thursday. The company has a market cap of $15.40 billion, a PE ratio of 24.93, a PEG ratio of 1.87 and a beta of 1.20. The company’s 50-day moving average is $99.84 and its two-hundred day moving average is $98.30. The company has a current ratio of 1.60, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Pentair has a 1 year low of $72.63 and a 1 year high of $110.71.

Pentair (NYSE:PNR) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The business had revenue of $972.90 million for the quarter, compared to the consensus estimate of $970.95 million. Pentair had a net margin of 15.32% and a return on equity of 20.94%. Pentair’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. Equities analysts anticipate that Pentair will post 4.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PNR. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Pentair in a research report on Thursday, November 21st. Wolfe Research assumed coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $125.00 price target on the stock. Oppenheimer increased their target price on Pentair from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays increased their target price on Pentair from $108.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Stifel Nicolaus lowered their target price on Pentair from $126.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pentair currently has an average rating of “Moderate Buy” and an average price target of $111.25.

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.