nVent Electric plc (NYSE:NVT) to Issue Quarterly Dividend of $0.19

nVent Electric plc (NYSE:NVT) declared a quarterly dividend on Monday, February 19th, Zacks reports. Shareholders of record on Friday, April 26th will be given a dividend of 0.19 per share on Friday, May 10th. This represents a $0.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, April 25th.

nVent Electric has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.8 %

NYSE:NVT opened at $72.49 on Wednesday. The business’s 50-day moving average is $70.84 and its two-hundred day moving average is $60.77. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. nVent Electric has a 12 month low of $40.19 and a 12 month high of $78.98. The firm has a market capitalization of $12.03 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.53 and a beta of 1.35.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The business had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts predict that nVent Electric will post 3.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric 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 transaction, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares in the company, valued at $21,987.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 400,252 shares of company stock worth $25,713,777. Corporate insiders own 2.50% of the company’s stock.

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.