5 Best Stocks for Dividends

In this article, we discuss 5 best stocks for dividends. If you want to read our detailed discussion on the best dividend stocks and their historical performance, go directly to read 10 Best Stocks for Dividends. 

5. Pentair plc (NYSE:PNR)

Dividend Yield as of September 27: 2.07%

Pentair plc (NYSE:PNR) is a Minnesota-based water treatment company that specializes in industrial water management. In July, Cowen reiterated its Outperform rating on the stock with a $65 price target, following the company’s Q2 results. The firm expects the company to maintain its performance in the upcoming quarters as well.

In Q2 2022, Pentair plc (NYSE:PNR) reported an operating cash flow of $308 million and its free cash flow came in at $284.4 million. The company paid nearly $70 million in dividends to shareholders, which were covered within its free cash flow. Its revenue for the quarter stood at $1.02 billion, up 8.4% from the same period last year.

Pentair plc (NYSE:PNR) holds a long dividend growth track record of 46 consecutive years. The company currently pays a quarterly dividend of $0.21 per share and has a yield of 2.07%, as of September 27.

At the end of Q2 2022, 31 hedge funds in Insider Monkey’s database owned stakes in Pentair plc (NYSE:PNR), down from 38 a quarter earlier. These stakes hold a collective value of nearly $947 million. Impax Asset Management was the company’s leading stakeholder in Q2.