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

Pentair plc (NYSE:PNR - Get Free Report) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Shareholders of record on Friday, January 24th will be paid 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% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 2.2 %

Shares of NYSE:PNR traded down $2.33 during trading on Tuesday, reaching $105.47. 1,169,668 shares of the stock were exchanged, compared to its average volume of 1,516,749. The stock has a fifty day moving average of $103.47 and a two-hundred day moving average of $91.12. Pentair has a 1-year low of $68.08 and a 1-year high of $110.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.60 and a quick ratio of 0.91. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20.

Pentair (NYSE:PNR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Pentair had a net margin of 16.29% and a return on equity of 20.48%. The firm had revenue of $993.40 million during the quarter, compared to analysts' expectations of $988.53 million. During the same period last year, the company earned $0.94 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. Research analysts anticipate that Pentair will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Philip M. Rolchigo sold 3,588 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.67, for a total value of $357,615.96. Following the completion of the transaction, the executive vice president now directly owns 19,232 shares of the company's stock, valued at $1,916,853.44. This trade represents a 15.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on PNR shares. TD Cowen lifted their target price on Pentair from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Barclays raised their price objective on Pentair from $108.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Oppenheimer upped their target price on shares of Pentair from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Citigroup raised their price target on shares of Pentair from $113.00 to $126.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Wolfe Research began coverage on shares of Pentair in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $125.00 price objective for the company. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.38.

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.