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

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 paid a dividend of 0.20 per share on Friday, May 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend 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. Equities analysts expect nVent Electric to earn $3.34 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 24.0%.

nVent Electric Stock Performance

NYSE:NVT traded up $0.53 during mid-day trading on Tuesday, reaching $68.86. The stock had a trading volume of 2,274,282 shares, compared to its average volume of 2,270,458. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.36 and a current ratio of 1.73. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 3.01 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 business has a 50 day simple moving average of $69.53 and a 200 day simple moving average of $70.13.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting 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, analysts expect that nVent Electric will post 3.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup reduced their price target 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. Royal Bank of Canada lifted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays lifted their price target 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric has an average rating of “Buy” and an average 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.