nVent Electric plc (NVT) to Issue Quarterly Dividend of $0.19 on November 1st

nVent Electric plc (NYSE:NVT) announced a quarterly dividend on Tuesday, September 24th, Zacks reports. Shareholders of record on Friday, October 18th will be given a dividend of 0.19 per share on Friday, November 1st. This represents a $0.76 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, October 18th.

nVent Electric has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect nVent Electric to earn $3.65 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 20.8%.

nVent Electric Trading Up 0.2 %

NYSE NVT opened at $69.66 on Thursday. The firm has a market capitalization of $11.58 billion, a PE ratio of 20.31, a P/E/G ratio of 1.35 and a beta of 1.27. The stock’s 50 day moving average is $66.92 and its 200 day moving average is $73.37. nVent Electric has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Research analysts forecast that nVent Electric will post 3.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVT shares. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Barclays lifted their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, Royal Bank of Canada cut their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average price target of $86.50.

Insider Buying and Selling

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at $2,268,572.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

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.