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

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Tuesday, September 24th, Zacks reports. Stockholders of record on Friday, October 18th will be paid a dividend of 0.19 per share on Friday, November 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, October 18th.

nVent Electric has a payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect nVent Electric to earn $3.63 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 20.9%.

nVent Electric Stock Up 1.3 %

Shares of nVent Electric stock opened at $74.31 on Thursday. nVent Electric has a 1 year low of $45.60 and a 1 year high of $86.57. The company has a market cap of $12.34 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.47 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $67.34 and a 200 day moving average price of $73.24.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. nVent Electric’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, analysts expect that nVent Electric will post 3.26 EPS for the current fiscal year.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Barclays decreased their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp raised their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $85.67.

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.