nVent Electric plc (NYSE:NVT) announced a quarterly dividend on Monday, February 22nd, Zacks reports. Stockholders of record on Friday, April 23rd will be paid a dividend of 0.175 per share on Friday, May 7th. This represents a $0.70 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, April 22nd.
nVent Electric has a payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect nVent Electric to earn $1.69 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 41.4%.
Shares of NYSE NVT opened at $29.15 on Wednesday. nVent Electric has a 1-year low of $15.60 and a 1-year high of $29.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.99 and a quick ratio of 1.41. The business’s 50 day moving average is $28.49 and its two-hundred day moving average is $23.86. The stock has a market capitalization of $4.90 billion, a P/E ratio of -100.52 and a beta of 1.53.
A hedge fund recently bought a new stake in nVent Electric stock. OLD Mission Capital LLC purchased a new stake in shares of nVent Electric plc (NYSE:NVT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,338 shares of the company’s stock, valued at approximately $537,000. 85.88% of the stock is owned by institutional investors and hedge funds.
NVT has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, March 4th. KeyCorp increased their price objective on shares of nVent Electric from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, March 11th. Zacks Investment Research raised shares of nVent Electric from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Wednesday. Rosenblatt Securities cut their target price on nVent Electric from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, February 10th. Finally, Barclays raised their price target on nVent Electric from $38.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 6th. Six analysts have rated the stock with a buy rating, nVent Electric presently has a consensus rating of “Buy” and a consensus price target of $32.50.
About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Western and Eastern Europe included in European Union, China, Eastern Europe not included in European Union, Latin America, the Middle East, Southeast Asia, Australia, and Japan.
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