5 Companies Likely to be Dividend Kings in the Future

1. Pentair plc (NYSE:PNR)

Consecutive Years of Dividend Growth: 47
5-Year Average Dividend Payout Ratio: 35.6%

Pentair plc (NYSE:PNR) is an American water treatment company, based in Minnesota. It mainly provides sustainable water solutions to its consumers. Following the company’s recent quarterly earnings, Loop Capital raised its price target on the stock to $75 in February with a Buy rating on the shares. Mizuho also maintained a Buy rating on PNR.

Pentair plc (NYSE:PNR) pays a quarterly dividend of $0.22 per share, raising it by 4.8% in December 2022. Through this increase, the company extended its dividend growth streak to 47 years. The stock’s dividend yield on February 7 came in at 1.53%. Its five-year average dividend payout ratio stands at 35.6%, which shows that it is likely to be a dividend king in the future.

At the end of Q3 2022, 29 hedge funds tracked by Insider Monkey reported owning stakes in Pentair plc (NYSE:PNR), compared with 31 in the previous quarter. The collective value of these stakes is over $914.3 million. Impax Asset Management was the company’s leading stakeholder in Q3.

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