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

nVent Electric plc (NYSE:NVT) declared 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 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, October 18th.

nVent Electric has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE NVT opened at $69.66 on Thursday. The company has a 50-day moving average price of $66.92 and a 200-day moving average price of $73.37. nVent Electric has a 52 week low of $45.60 and a 52 week 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. The firm has a market capitalization of $11.58 billion, a P/E ratio of 20.31, a PEG ratio of 1.35 and a beta of 1.27.

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 analysts’ expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Equities research analysts anticipate that nVent Electric will post 3.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NVT shares. KeyCorp upgraded nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Wednesday, September 4th. Barclays boosted 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 decreased their target price on shares of 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $86.50.

Insider Transactions at nVent Electric

In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. The disclosure for this sale can be found here. 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.