nVent Electric plc (NYSE:NVT) to Issue $0.20 Quarterly Dividend

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors of record on Friday, April 25th will be paid a dividend of 0.20 per share on Friday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Friday, April 25th.

nVent Electric has increased its dividend payment by an average of 3.2% annually over the last three years. nVent Electric has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Analysts expect nVent Electric to earn $3.40 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 23.5%.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $67.72 on Thursday. The business’s fifty day moving average price is $69.42 and its 200 day moving average price is $70.16. The stock has a market capitalization of $11.16 billion, a P/E ratio of 34.55, a PEG ratio of 1.54 and a beta of 1.26. nVent Electric has a twelve month low of $56.44 and a twelve month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, research analysts anticipate that nVent Electric will post 3.04 earnings per share for the current year.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Barclays boosted their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $86.33.

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.