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

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Tuesday, September 24th, Zacks reports. Shareholders of record on Friday, October 18th will be given a dividend of 0.19 per share on Friday, November 1st. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 18th.

nVent Electric has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Analysts expect nVent Electric to earn $3.63 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 20.9%.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $74.31 on Thursday. The business has a fifty day moving average of $67.34 and a 200-day moving average of $73.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. nVent Electric has a twelve month low of $45.60 and a twelve month high of $86.57. The firm has a market cap of $12.34 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. During the same period in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that nVent Electric will post 3.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on NVT. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, KeyCorp raised their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $85.67.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the sale, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

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.