nVent Electric plc (NYSE:NVT) to Issue Quarterly Dividend of $0.18

Posted by on May 14th, 2022

nVent Electric plc (NYSE:NVT – Get Rating) declared a quarterly dividend on Friday, May 13th, Zacks reports. Shareholders of record on Friday, July 22nd will be given a dividend of 0.175 per share on Friday, August 5th. This represents a $0.70 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, July 21st.

nVent Electric has raised its dividend by an average of 10.1% annually over the last three years. nVent Electric has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect nVent Electric to earn $2.41 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 29.0%.

NYSE NVT opened at $34.54 on Friday. The firm’s 50 day moving average price is $34.62 and its two-hundred day moving average price is $35.49. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 21.32 and a beta of 1.44. nVent Electric has a twelve month low of $28.27 and a twelve month high of $39.53. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.64.

nVent Electric (NYSE:NVT – Get Rating) last released its earnings results on Friday, April 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. nVent Electric had a net margin of 10.56% and a return on equity of 13.68%. The firm had revenue of $694.70 million during the quarter, compared to analyst estimates of $627.83 million. During the same quarter in the previous year, the business earned $0.43 EPS. The business’s revenue was up 26.6% on a year-over-year basis. On average, research analysts forecast that nVent Electric will post 2.22 EPS for the current fiscal year.

In other nVent Electric news, Director Ronald Merriman sold 3,947 shares of the stock in a transaction on Monday, March 28th. The shares were sold at an average price of $35.17, for a total value of $138,815.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in NVT. BlackRock Inc. increased its position in nVent Electric by 3.2% during the first quarter. BlackRock Inc. now owns 14,459,036 shares of the company’s stock worth $502,885,000 after acquiring an additional 454,668 shares during the period. Deutsche Bank AG increased its holdings in nVent Electric by 1,721.8% in the 4th quarter. Deutsche Bank AG now owns 321,848 shares of the company’s stock valued at $12,231,000 after buying an additional 304,182 shares during the period. Vanguard Group Inc. increased its holdings in nVent Electric by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock valued at $619,079,000 after buying an additional 302,124 shares during the period. Morgan Stanley increased its holdings in nVent Electric by 124.6% in the 2nd quarter. Morgan Stanley now owns 351,308 shares of the company’s stock valued at $10,976,000 after buying an additional 194,925 shares during the period. Finally, Verition Fund Management LLC increased its holdings in nVent Electric by 558.3% in the 1st quarter. Verition Fund Management LLC now owns 207,755 shares of the company’s stock valued at $7,226,000 after buying an additional 176,195 shares during the period. 88.44% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently issued reports on the stock. Barclays reduced their target price on shares of nVent Electric from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Zacks Investment Research raised shares of nVent Electric from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, May 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and a consensus target price of $42.60.

nVent Electric Company Profile (Get Rating)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

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Dividend History for nVent Electric (NYSE:NVT)

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