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Pentair plc (NYSE:PNR - Get Rating) declared a quarterly dividend on Monday, September 19th, RTT News reports. Investors of record on Friday, October 21st will be paid a dividend of 0.21 per share by the industrial products company on Friday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%.
Pentair has raised its dividend by an average of 15.2% annually over the last three years and has increased its dividend annually for the last 46 consecutive years. Pentair has a payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pentair to earn $3.75 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 22.4%. Pentair Stock Up 1.8 %
Shares of NYSE:PNR traded up $0.75 during midday trading on Monday, reaching $43.59. The company had a trading volume of 768,428 shares, compared to its average volume of 1,434,597. Pentair has a one year low of $42.46 and a one year high of $80.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.38 and a quick ratio of 0.73. The stock has a market capitalization of $7.17 billion, a P/E ratio of 12.82, a PEG ratio of 1.21 and a beta of 1.11. The stock's fifty day moving average price is $47.28 and its 200-day moving average price is $49.75.
Pentair (NYSE:PNR - Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Pentair had a return on equity of 24.60% and a net margin of 13.99%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company earned $0.84 earnings per share. Pentair's quarterly revenue was up 13.1% on a year-over-year basis. Equities research analysts expect that Pentair will post 3.71 earnings per share for the current fiscal year. Insider Transactions at Pentair
In other Pentair news, EVP Philip M. Rolchigo sold 2,531 shares of Pentair stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $47.90, for a total transaction of $121,234.90. Following the completion of the sale, the executive vice president now owns 21,339 shares of the company's stock, valued at approximately $1,022,138.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is owned by insiders. Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of PNR. Robeco Schweiz AG grew its position in shares of Pentair by 41.3% in the first quarter. Robeco Schweiz AG now owns 2,667,551 shares of the industrial products company's stock valued at $144,608,000 after purchasing an additional 780,043 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Pentair by 176.4% in the 1st quarter. Renaissance Technologies LLC now owns 892,164 shares of the industrial products company's stock valued at $48,364,000 after buying an additional 569,400 shares during the last quarter. Invesco Ltd. increased its position in Pentair by 8.2% in the 1st quarter. Invesco Ltd. now owns 6,346,517 shares of the industrial products company's stock worth $344,045,000 after buying an additional 479,701 shares during the period. Eaton Vance Management lifted its holdings in shares of Pentair by 421.2% during the first quarter. Eaton Vance Management now owns 323,972 shares of the industrial products company's stock worth $17,562,000 after buying an additional 261,812 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Pentair by 46.5% in the second quarter. Goldman Sachs Group Inc. now owns 404,936 shares of the industrial products company's stock valued at $18,534,000 after acquiring an additional 128,516 shares during the period. Institutional investors and hedge funds own 87.08% of the company's stock. Wall Street Analysts Forecast Growth
PNR has been the topic of a number of analyst reports. Cowen dropped their price objective on shares of Pentair from $75.00 to $65.00 in a report on Wednesday, July 27th. Stifel Nicolaus reduced their price objective on Pentair from $57.00 to $47.00 in a research report on Wednesday, July 20th. Northcoast Research started coverage on Pentair in a research report on Friday, July 15th. They issued a "neutral" rating on the stock. Morgan Stanley reduced their price target on Pentair from $49.00 to $41.00 and set an "underweight" rating for the company in a research report on Friday, July 15th. Finally, StockNews.com lowered Pentair from a "buy" rating to a "hold" rating in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $64.91.Pentair Company Profile (Get Rating)
Pentair plc provides various water solutions worldwide. It operates through Consumer Solutions; and Industrial & Flow Technologies segments. The Consumer Solutions segment designs, manufactures, and sells residential and commercial pool equipment and accessories, including pumps, filters, heaters, lights, automatic controls, automatic cleaners, maintenance equipment, and pool accessories for residential and commercial pool maintenance, repair, renovation, service, and construction applications; and water treatment products and systems comprising pressure tanks, control valves, activated carbon products, conventional filtration products, and point-of-entry and point-of-use systems for the use in residential whole home water filtration, drinking water filtration, and water softening solutions, as well as in commercial total water management and filtration in foodservice operations.Read MoreGet a free copy of the StockNews.com research report on Pentair (PNR)Still Lovin' It: Investors Keep Visiting McDonald'sDid FedEx Just Deliver A Buying Opportunity? Autozone Shifts Back Into Rally-Mode, New Highs Are In SightUpwork Shares Stumble into Bargain Territory Kroger’s is Your One-Stop Consumer Staples Stock
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