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

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Shareholders 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 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, April 25th.

nVent Electric has raised its dividend payment by an average of 3.2% per year over the last three years. nVent Electric has a payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect nVent Electric to earn $3.34 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 24.0%.

nVent Electric Stock Performance

Shares of NVT stock traded up $0.53 during mid-day trading on Tuesday, hitting $68.86. 2,274,282 shares of the stock were exchanged, compared to its average volume of 2,270,458. The stock’s fifty day simple moving average is $69.53 and its two-hundred day simple moving average is $70.13. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 35.13, a P/E/G ratio of 3.01 and a beta of 1.26. nVent Electric has a 12-month low of $56.44 and a 12-month high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.36 and a current ratio of 1.73.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, analysts forecast that nVent Electric will post 3.03 EPS for the current year.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

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

nVent Electric Company Profile

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.