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

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Monday, February 19th, Zacks reports. Stockholders of record on Friday, April 26th will be given a dividend of 0.19 per share on Friday, May 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 25th.

nVent Electric has a payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE:NVT opened at $71.15 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The company has a 50 day moving average price of $70.63 and a 200-day moving average price of $60.63. nVent Electric has a 1-year low of $40.19 and a 1-year high of $78.98.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. The firm had revenue of $861.20 million during 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%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Equities research analysts forecast that nVent Electric will post 3.24 EPS for the current year.

Insider Transactions at nVent Electric

In other news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Randall J. Hogan sold 184,572 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the sale, the director now owns 8,277 shares of the company’s stock, valued at $529,976.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction 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 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.