nVent Electric plc (NYSE:NVT – Get Rating) announced a quarterly dividend on Monday, February 21st, Zacks reports. Investors of record on Friday, April 22nd will be paid a dividend of 0.175 per share on Friday, May 6th. This represents a $0.70 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, April 21st.
nVent Electric has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect nVent Electric to earn $2.36 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 29.7%.
Shares of NVT stock opened at $34.37 on Tuesday. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 21.35 and a beta of 1.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.43 and a quick ratio of 0.93. nVent Electric has a 12-month low of $28.27 and a 12-month high of $39.53. The business has a 50 day simple moving average of $34.39.
A number of equities research analysts have recently commented on the company. Vertical Research upgraded nVent Electric from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Monday, January 3rd. Zacks Investment Research cut nVent Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Finally, Barclays cut their price objective on nVent Electric from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, February 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $43.00.
In other news, Director Ronald Merriman sold 3,947 shares of nVent Electric stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $35.17, for a total value of $138,815.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OLD Mission Capital LLC acquired a new stake in nVent Electric during the third quarter valued at approximately $537,000. Colony Group LLC bought a new position in nVent Electric in the 4th quarter worth approximately $407,000. Advisors Asset Management Inc. bought a new position in nVent Electric in the 4th quarter worth approximately $169,000. Goldman Sachs Group Inc. raised its position in shares of nVent Electric by 6.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,080,206 shares of the company’s stock valued at $41,048,000 after acquiring an additional 61,962 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of nVent Electric by 2.2% during the 4th quarter. Parametric Portfolio Associates LLC now owns 419,443 shares of the company’s stock valued at $15,939,000 after acquiring an additional 8,998 shares during the last quarter. 84.45% of the stock is currently owned by institutional investors.
nVent Electric Company Profile (Get Rating)
nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.
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