Pentair plc to Issue Quarterly Dividend of $0.27 (NYSE:PNR)

Pentair plc (NYSE:PNR) declared a quarterly dividend on Monday, May 4th. Stockholders of record on Friday, July 24th will be given a dividend of 0.27 per share by the industrial products company on Friday, August 7th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, July 24th.

Pentair has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 7 years. Pentair has a dividend payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pentair to earn $5.86 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 18.4%.

Pentair Stock Performance

NYSE:PNR opened at $77.17 on Tuesday. Pentair has a 1 year low of $77.02 and a 1 year high of $113.95. The firm has a 50 day moving average of $90.55 and a 200-day moving average of $99.81. The company has a current ratio of 1.88, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $12.47 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10.

Pentair (NYSE:PNR) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Pentair had a net margin of 15.98% and a return on equity of 21.92%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted $1.11 earnings per share. Pentair’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pentair will post 5.35 EPS for the current fiscal year.

Insider Activity at Pentair

In related news, Director Michael T. Speetzen sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $99.99, for a total value of $699,930.00. Following the completion of the transaction, the director owned 8,290 shares in the company, valued at $828,917.10. The trade was a 45.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Philip M. Rolchigo sold 6,493 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $103.22, for a total transaction of $670,207.46. Following the completion of the transaction, the executive vice president owned 29,096 shares of the company’s stock, valued at $3,003,289.12. This trade represents a 18.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PNR. Nordea Investment Management AB raised its position in Pentair by 173.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,837,753 shares of the industrial products company’s stock worth $311,046,000 after purchasing an additional 1,800,669 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Pentair by 106.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,236,826 shares of the industrial products company’s stock valued at $358,521,000 after acquiring an additional 1,670,944 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Pentair by 1,459.8% during the 1st quarter. Hsbc Holdings PLC now owns 1,270,578 shares of the industrial products company’s stock valued at $110,617,000 after acquiring an additional 1,189,122 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Pentair by 1,690.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 729,663 shares of the industrial products company’s stock valued at $75,987,000 after acquiring an additional 688,921 shares during the last quarter. Finally, 140 Summer Partners LP bought a new stake in shares of Pentair during the 3rd quarter valued at $60,752,000. Institutional investors own 92.37% of the company’s stock.

About Pentair

Pentair plc (NYSE: PNR) is a global provider of water treatment and fluid management solutions. The company designs, manufactures and sells a broad range of products that move, treat, monitor and control the flow of water and other fluids across residential, commercial, industrial and municipal markets. Pentair’s offerings are focused on improving water quality, conserving resources and enabling efficient fluid handling in applications from household water systems and pools to large-scale industrial and municipal installations.

Product lines include pumps and pumping systems, water filtration and purification equipment, valves and controls, heat exchangers, pool and spa systems, and a range of aftermarket parts and services.