nVent Electric PLC (NYSE:NVT) announced a quarterly dividend on Friday, May 10th, Zacks reports. Stockholders of record on Friday, July 19th will be paid a dividend of 0.175 per share on Friday, August 2nd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, July 18th.
nVent Electric has a payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect nVent Electric to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 33.5%.
Shares of NVT opened at $24.85 on Wednesday. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 14.28 and a beta of 1.54. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.35. nVent Electric has a fifty-two week low of $19.71 and a fifty-two week high of $29.84. The business has a 50 day simple moving average of $24.32.
nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $538.00 million during the quarter, compared to analyst estimates of $546.43 million. nVent Electric had a net margin of 10.62% and a return on equity of 11.66%. The firm’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that nVent Electric will post 1.87 EPS for the current year.
In related news, Director Michael L. Ducker acquired 2,000 shares of nVent Electric stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average cost of $24.07 per share, with a total value of $48,140.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Trian Fund Management, L.P. sold 366,901 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $26.03, for a total transaction of $9,550,433.03. The disclosure for this sale can be found here. Insiders have sold a total of 4,015,786 shares of company stock valued at $101,315,702 over the last quarter. 1.60% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Hudson Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Buckingham Research set a $31.00 price target on shares of nVent Electric and gave the company a “buy” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.67.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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