nVent Electric PLC (NYSE:NVT) declared a quarterly dividend on Tuesday, September 18th, Zacks reports. Shareholders of record on Friday, October 19th will be given a dividend of 0.175 per share on Friday, November 2nd. This represents a $0.70 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, October 18th.
nVent Electric has a payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect nVent Electric to earn $1.95 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 35.9%.
NYSE:NVT opened at $24.13 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.12 and a debt-to-equity ratio of 0.36. nVent Electric has a fifty-two week low of $21.00 and a fifty-two week high of $29.84.
nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. The company had revenue of $542.70 million for the quarter, compared to analyst estimates of $542.50 million. The business’s revenue was up 5.7% compared to the same quarter last year. Research analysts expect that nVent Electric will post 1.76 EPS for the current year.
In other news, Director William T. Monahan sold 17,133 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total value of $481,094.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Separately, Barclays restated a “hold” rating and set a $25.00 price objective on shares of nVent Electric in a research report on Friday, July 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. nVent Electric currently has a consensus rating of “Buy” and a consensus target price of $28.25.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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