nVent Electric plc (NVT) to Issue Quarterly Dividend of $0.20 on May 9th

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors of record on Friday, April 25th will be given a dividend of 0.20 per share on Friday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, April 25th.

nVent Electric has raised its dividend by an average of 3.2% per year over the last three years. nVent Electric has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect nVent Electric to earn $3.40 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 23.5%.

nVent Electric Stock Down 1.6 %

nVent Electric stock opened at $67.72 on Thursday. nVent Electric has a twelve month low of $56.44 and a twelve month high of $86.57. The stock has a 50 day moving average of $69.42 and a two-hundred day moving average of $70.16. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 1.54 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, research analysts expect that nVent Electric will post 3.04 earnings per share for the current year.

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup dropped their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Barclays raised their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $86.33.

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.