nVent Electric PLC Plans Quarterly Dividend of $0.18 (NYSE:NVT)

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nVent Electric PLC (NYSE:NVT) declared a quarterly dividend on Friday, May 10th, Zacks reports. Investors of record on Friday, July 19th will be given a dividend of 0.175 per share on Friday, August 2nd. This represents a $0.70 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, July 18th.

nVent Electric has a payout ratio of 39.8% meaning its dividend is sufficiently covered by earnings. Analysts expect nVent Electric to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 33.5%.

nVent Electric stock opened at $24.84 on Tuesday. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 14.28 and a beta of 1.54. The firm has a fifty day simple moving average of $24.30. nVent Electric has a 52 week low of $19.71 and a 52 week high of $29.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.82 and a quick ratio of 1.22.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, April 25th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $538.00 million during the quarter, compared to analyst estimates of $546.43 million. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. The firm’s revenue was down .2% compared to the same quarter last year. As a group, equities research analysts forecast that nVent Electric will post 1.87 EPS for the current fiscal year.

Several research firms recently commented on NVT. Buckingham Research set a $31.00 target price on nVent Electric and gave the company a “buy” rating in a research note on Friday, April 26th. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research raised Hudson Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.67.

In other news, Director Michael L. Ducker purchased 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $24.07 per share, with a total value of $48,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trian Fund Management, L.P. sold 366,901 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $26.03, for a total value of $9,550,433.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,015,786 shares of company stock valued at $101,315,702. 1.60% of the stock is owned by company insiders.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Dividend History for nVent Electric (NYSE:NVT)

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