nVent Electric plc Declares Quarterly Dividend of $0.19 (NYSE:NVT)

nVent Electric plc (NYSE:NVT) announced a quarterly dividend on Monday, February 19th, Zacks reports. Shareholders of record on Friday, April 26th will be paid a dividend of 0.19 per share on Friday, May 10th. This represents a $0.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, April 25th.

nVent Electric has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect nVent Electric to earn $3.55 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 21.4%.

nVent Electric Stock Up 1.8 %

Shares of NVT stock opened at $72.49 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. nVent Electric has a 1 year low of $40.19 and a 1 year high of $78.98. The firm’s fifty day moving average price is $70.84 and its two-hundred day moving average price is $60.77. The firm has a market capitalization of $12.03 billion, a P/E ratio of 21.51, a PEG ratio of 1.53 and a beta of 1.35.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The company had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. nVent Electric’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. On average, equities analysts predict that nVent Electric will post 3.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVT. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Citigroup upped their price target on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 8th. The Goldman Sachs Group upped their price target on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Barclays upped their price target on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.60.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock valued at $25,713,777 in the last quarter. Company 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.