Pentair (NYSE:PNR) Hits New 1-Year High After Dividend Announcement

Pentair plc (NYSE:PNR)’s stock price reached a new 52-week high during trading on Tuesday after the company announced a dividend. The stock traded as high as $96.60 and last traded at $96.60, with a volume of 305 shares trading hands. The stock had previously closed at $95.95.

The newly announced dividend which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, October 18th. Pentair’s payout ratio is 24.47%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Pentair from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Pentair from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their target price on shares of Pentair from $85.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Oppenheimer boosted their price target on shares of Pentair from $92.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, KeyCorp increased their price objective on shares of Pentair from $92.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Pentair has a consensus rating of “Moderate Buy” and an average price target of $92.87.

Pentair Trading Down 0.2 %

The business has a fifty day moving average of $86.90 and a 200-day moving average of $82.70. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.65. The company has a market capitalization of $15.97 billion, a P/E ratio of 25.66, a PEG ratio of 1.73 and a beta of 1.20.

Pentair (NYSE:PNR) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Pentair had a return on equity of 20.39% and a net margin of 16.05%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Analysts anticipate that Pentair plc will post 4.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pentair

A number of institutional investors and hedge funds have recently bought and sold shares of PNR. Anchor Investment Management LLC grew its stake in shares of Pentair by 74.8% in the 2nd quarter. Anchor Investment Management LLC now owns 1,809 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 774 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Pentair by 82.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 77,500 shares of the industrial products company’s stock worth $5,942,000 after purchasing an additional 34,932 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pentair in the 2nd quarter worth about $67,000. Sanctuary Advisors LLC purchased a new stake in Pentair in the 2nd quarter valued at about $473,000. Finally, Cetera Investment Advisers lifted its position in shares of Pentair by 8.3% during the 2nd quarter. Cetera Investment Advisers now owns 54,855 shares of the industrial products company’s stock worth $4,206,000 after buying an additional 4,202 shares in the last quarter. 92.37% of the stock is owned by hedge funds and other institutional investors.

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.