nVent Electric plc (NVT) to Issue Quarterly Dividend of $0.19 on May 10th

nVent Electric plc (NYSE:NVT) announced a quarterly dividend on Monday, February 19th, Zacks reports. Stockholders of record on Friday, April 26th will be paid a dividend of 0.19 per share on Friday, May 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, April 25th.

nVent Electric has a payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect nVent Electric to earn $3.55 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 21.4%.

nVent Electric Stock Down 0.7 %

NVT opened at $71.15 on Tuesday. nVent Electric has a 12 month low of $40.19 and a 12 month high of $78.98. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $11.81 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The company has a 50 day moving average of $70.63 and a 200 day moving average of $60.63.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The company had revenue of $861.20 million for the quarter, compared to analysts’ expectations of $866.90 million. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect that nVent Electric will post 3.24 EPS for the current year.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 400,252 shares of company stock valued at $25,713,777. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVT. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Barclays boosted their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup boosted their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.60.

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.