nVent Electric plc (NYSE:NVT) to Issue Quarterly Dividend of $0.20

nVent Electric plc (NYSE:NVT) announced a quarterly dividend on Monday, December 16th,RTT News reports. Investors 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 1.07%. This is an increase from nVent Electric’s previous quarterly dividend of $0.19.

nVent Electric has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 0.7 %

Shares of NYSE NVT opened at $75.03 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric has a 12-month low of $55.19 and a 12-month high of $86.57. The firm’s 50-day moving average price is $74.96 and its 200-day moving average price is $72.63. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 3.88 and a beta of 1.25.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by corporate 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.