nVent Electric plc (NYSE:NVT) Increases Dividend to $0.20 Per Share

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Monday, December 16th,RTT News reports. Shareholders of record on Friday, January 17th will be given a dividend of 0.20 per share on Friday, February 7th. This represents a $0.80 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, January 17th. This is an increase from nVent Electric’s previous quarterly dividend of $0.19.

nVent Electric has raised its dividend by an average of 2.8% per year over the last three years. nVent Electric has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect nVent Electric to earn $3.00 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 26.7%.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $69.89 on Wednesday. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 3.86 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric has a 1 year low of $55.19 and a 1 year high of $86.57. The business has a fifty day simple moving average of $73.55 and a 200 day simple moving average of $71.27.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. As a group, sell-side analysts predict that nVent Electric will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,382 shares of company stock valued at $7,365,956. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Barclays boosted their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. KeyCorp raised their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $86.17.

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.