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

nVent Electric plc (NYSE:NVT) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors of record on Friday, April 25th will be given a dividend of 0.20 per share on Friday, May 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, April 25th.

nVent Electric has increased its dividend by an average of 3.2% annually over the last three years. nVent Electric has a payout ratio of 23.1% indicating that 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 Stock Up 0.8 %

nVent Electric stock opened at $68.86 on Wednesday. The firm’s 50 day moving average price is $69.53 and its two-hundred day moving average price is $70.13. The firm has a market cap of $11.35 billion, a PE ratio of 35.13, a P/E/G ratio of 1.52 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 debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

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

Insider Activity

In other news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The shares were 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 approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVT has been the subject of several research reports. Royal Bank of Canada lifted their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays raised their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup decreased their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on 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.