5 Best Dividend Stocks of 2023

4. Pentair plc (NYSE:PNR)

Year-to-date Returns as of April 28: 27.6%

A Minnesota-based water treatment company, Pentair plc (NYSE:PNR) has been raising its dividends consistently for the past 47 years. The company currently pays a quarterly dividend of $0.22 per share and has a dividend yield of 1.53%, as of April 28.

Pentair plc (NYSE:PNR)’s recent quarterly earnings were lauded by Street analysts. In April, both Stifel and Oppenheimer raised their price targets on the stock to $71 and $72, respectively.

As of the close of Q4 2022, 29 hedge funds tracked by Insider Monkey reported having stakes in Pentair plc (NYSE:PNR), the same as in the previous quarter. The collective value of these stakes is over $1.15 billion. Among these hedge funds, Impax Asset Management was the company’s leading stakeholder in Q4.

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