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. Shareholders of record on Friday, January 17th will be given a dividend of 0.20 per share on Friday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19.

nVent Electric has a dividend 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 Up 0.8 %

NYSE:NVT opened at $75.64 on Tuesday. The company has a market cap of $12.47 billion, a PE ratio of 22.18, a PEG ratio of 3.86 and a beta of 1.25. The stock has a 50-day simple moving average of $75.03 and a 200 day simple moving average of $72.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric has a 52-week low of $55.19 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that nVent Electric will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the sale, the chief financial officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,382 shares of company stock worth $7,365,956. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NVT shares. Royal Bank of Canada cut their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. KeyCorp raised their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Citigroup upped their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a report on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus price target of $85.50.

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.