nVent Electric plc to Issue Quarterly Dividend of $0.20 (NYSE:NVT)

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Friday, April 25th will be paid a dividend of 0.20 per share on Friday, May 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, April 25th.

nVent Electric has increased its dividend payment by an average of 3.2% annually over the last three years. nVent Electric has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect nVent Electric to earn $3.40 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 23.5%.

nVent Electric Stock Performance

Shares of NVT opened at $68.86 on Wednesday. The firm has a market capitalization of $11.35 billion, a PE ratio of 35.13, a P/E/G ratio of 1.52 and a beta of 1.26. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $69.53 and a 200 day moving average price of $70.13. nVent Electric has a 52-week low of $56.44 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, sell-side analysts anticipate that nVent Electric will post 3.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVT. Barclays lifted their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average target price of $86.33.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

About nVent Electric

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.