nVent Electric plc (NYSE:NVT) Announces Dividend Increase – $0.20 Per Share

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Monday, December 16th,RTT News reports. Stockholders of record on Friday, January 17th will be given a dividend of 0.20 per share on Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19.

nVent Electric has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect nVent Electric to earn $3.00 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 25.3%.

nVent Electric Stock Performance

Shares of NVT stock opened at $75.64 on Tuesday. The firm’s 50 day moving average is $75.03 and its 200 day moving average is $72.58. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric has a 12 month low of $55.19 and a 12 month high of $86.57. The stock has a market capitalization of $12.47 billion, a P/E ratio of 22.18, a PEG ratio of 3.86 and a beta of 1.25.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the previous year, the firm earned $0.84 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that nVent Electric will post 2.5 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVT. Barclays upped their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citigroup raised their target price on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada cut their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $85.50.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last three months. Company insiders own 2.50% of the company’s stock.

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.