nVent Electric PLC (NYSE:NVT) announced a quarterly dividend on Tuesday, September 18th, Zacks reports. Stockholders 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 dividend yield of 2.90%. The ex-dividend date is Thursday, October 18th.
nVent Electric has a payout ratio of 39.8% meaning its dividend is sufficiently covered by earnings. Equities 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%.
Shares of nVent Electric stock opened at $24.13 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.12 and a quick ratio of 1.53. nVent Electric has a 12 month low of $21.00 and a 12 month high of $29.84.
nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, July 26th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric will post 1.76 EPS for the current fiscal year.
Separately, Barclays reaffirmed a “hold” rating and set a $25.00 price objective on shares of nVent Electric in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. nVent Electric currently has a consensus rating of “Buy” and a consensus price target of $28.25.
In related news, Director William T. Monahan sold 17,133 shares of nVent Electric stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $28.08, for a total transaction of $481,094.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
About nVent Electric
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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