nVent Electric plc (NYSE:NVT – Get Free Report) declared a quarterly dividend on Friday, May 17th, Zacks reports. Stockholders of record on Friday, July 19th will be paid a dividend of 0.19 per share on Friday, August 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, July 19th.
nVent Electric has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect nVent Electric to earn $3.57 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 21.3%.
nVent Electric Stock Down 8.0 %
Shares of NYSE NVT opened at $74.67 on Thursday. The firm has a market capitalization of $12.40 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.78 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric has a 1 year low of $45.60 and a 1 year high of $86.57. The firm’s 50-day moving average is $79.42 and its 200-day moving average is $71.55.
Analyst Ratings Changes
NVT has been the topic of several recent analyst reports. Royal Bank of Canada reduced their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Barclays lifted their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Citigroup lifted their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.00.
Read Our Latest Stock Analysis on nVent Electric
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.
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