Pentair (PNR) Declares $0.22 Dividend

Pentair said on May 8, 2023 that its board of directors declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Previously, the company paid $0.22 per share.

Shares must be purchased before the ex-div date of July 20, 2023 to qualify for the dividend. Shareholders of record as of July 21, 2023 will receive the payment on August 4, 2023.

At the current share price of $58.56 / share, the stock's dividend yield is 1.50%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.65%, the lowest has been 1.00%, and the highest has been 3.33%. The standard deviation of yields is 0.33 (n=237).

The current dividend yield is 0.44 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.29. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1100 funds or institutions reporting positions in Pentair. This is an increase of 37 owner(s) or 3.48% in the last quarter. Average portfolio weight of all funds dedicated to PNR is 0.20%, an increase of 35.50%. Total shares owned by institutions decreased in the last three months by 2.76% to 166,873K shares. The put/call ratio of PNR is 0.19, indicating a bullish outlook.

Analyst Price Forecast Suggests 3.81% Upside

As of April 24, 2023, the average one-year price target for Pentair is 60.79. The forecasts range from a low of 39.39 to a high of $80.85. The average price target represents an increase of 3.81% from its latest reported closing price of 58.56.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Pentair is 4,223MM, an increase of 1.74%. The projected annual non-GAAP EPS is 3.64.

What are Other Shareholders Doing?

Impax Asset Management Group holds 14,182K shares representing 8.60% ownership of the company. In it's prior filing, the firm reported owning 13,816K shares, representing an increase of 2.58%. The firm decreased its portfolio allocation in PNR by 99.90% over the last quarter.

Amundi holds 5,387K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 5,019K shares, representing an increase of 6.83%. The firm increased its portfolio allocation in PNR by 12.60% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,999K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 4,920K shares, representing an increase of 1.59%. The firm increased its portfolio allocation in PNR by 3.88% over the last quarter.

Invesco holds 4,766K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 5,369K shares, representing a decrease of 12.65%. The firm decreased its portfolio allocation in PNR by 10.57% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,238K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 4,176K shares, representing an increase of 1.47%. The firm increased its portfolio allocation in PNR by 4.02% over the last quarter.

Pentair Background Information
(This description is provided by the company.)

Pentair makes the most of life's essential resources, from great tasting water straight from the kitchen faucet, to industrial water management and everywhere in between. We deliver solutions that help people move, improve and enjoy water, and sustainable applications that help ensure the health of the world. Smart, Sustainable Solutions. For Life. Pentair had revenue in 2019 of $3 billion and has approximately 120 locations in 25 countries and 9,500 employees.

This story originally appeared on Fintel.