Pentair plc (PNR) To Go Ex-Dividend on July 19th

Pentair plc (NYSE:PNR) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Friday, July 19th will be given a dividend of 0.23 per share by the industrial products company on Friday, August 2nd. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, July 19th.

Pentair has raised its dividend by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 6 years. Pentair has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $4.79 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 19.2%.

Pentair Price Performance

PNR stock traded up $0.30 during mid-day trading on Wednesday, hitting $83.32. 190,682 shares of the stock were exchanged, compared to its average volume of 1,612,575. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.90 and a quick ratio of 1.17. The stock has a market capitalization of $13.83 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.37 and a beta of 1.24. The business has a fifty day moving average price of $81.12 and a 200 day moving average price of $72.93. Pentair has a 12 month low of $55.26 and a 12 month high of $85.81.

Pentair (NYSE:PNR) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business earned $0.91 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Pentair will post 4.24 EPS for the current year.

Analyst Upgrades and Downgrades

PNR has been the topic of several recent research reports. Mizuho raised their price target on Pentair from $82.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Barclays lifted their target price on shares of Pentair from $92.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group restated a “neutral” rating and issued a $91.00 price objective on shares of Pentair in a research report on Friday, March 22nd. UBS Group raised their target price on Pentair from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Northcoast Research upgraded Pentair from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.93.

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.