nVent Electric plc (NVT) to Issue Quarterly Dividend of $0.20 on February 7th

nVent Electric plc (NYSE:NVT) announced a quarterly dividend on Monday, December 16th,RTT News reports. Shareholders of record on Friday, January 17th will be paid a dividend of 0.20 per share on Friday, February 7th. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19.

nVent Electric has a dividend payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. 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

nVent Electric stock opened at $72.62 on Wednesday. nVent Electric has a fifty-two week low of $55.19 and a fifty-two week high of $86.57. The firm’s fifty day moving average price is $75.07 and its 200-day moving average price is $72.52. The stock has a market cap of $11.97 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 3.86 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This trade represents a 53.66 % 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 in the last three months. 2.50% of the stock is owned by corporate insiders.

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.