nVent Electric PLC (NVT) to Issue Quarterly Dividend of $0.18 on November 2nd

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nVent Electric PLC (NYSE:NVT) declared 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 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, October 18th.

nVent Electric has a dividend payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Equities research 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%.

nVent Electric stock opened at $24.13 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 2.12. 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 released its earnings results on Thursday, July 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $542.70 million during the quarter, compared to analysts’ expectations of $542.50 million. nVent Electric’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that nVent Electric will post 1.76 earnings per share for the current fiscal year.

In related news, Director William T. Monahan sold 17,133 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total transaction of $481,094.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Separately, Barclays reissued a “hold” rating and issued a $25.00 target price on shares of nVent Electric in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target 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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