nVent Electric (NVT) Declares $0.18 Dividend

nVent Electric said on May 12, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.70 annualized). Previously, the company paid $0.18 per share.

Shares must be purchased before the ex-div date of July 20, 2023 to qualify for the dividend. Shareholders of record as of July 21, 2023 will receive the payment on August 4, 2023.

At the current share price of $41.25 / share, the stock's dividend yield is 1.70%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.63%, the lowest has been 1.52%, and the highest has been 5.08%. The standard deviation of yields is 0.68 (n=228).

The current dividend yield is 1.38 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 936 funds or institutions reporting positions in nVent Electric. This is an increase of 78 owner(s) or 9.09% in the last quarter. Average portfolio weight of all funds dedicated to NVT is 0.30%, an increase of 2.64%. Total shares owned by institutions decreased in the last three months by 1.37% to 178,728K shares. The put/call ratio of NVT is 0.71, indicating a bullish outlook.

Analyst Price Forecast Suggests 31.05% Upside

As of May 11, 2023, the average one-year price target for nVent Electric is 54.06. The forecasts range from a low of 50.50 to a high of $57.75. The average price target represents an increase of 31.05% from its latest reported closing price of 41.25.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for nVent Electric is 2,975MM, an increase of 0.68%. The projected annual non-GAAP EPS is 2.50.

What are Other Shareholders Doing?

Franklin Resources holds 5,587K shares representing 3.37% ownership of the company. In it's prior filing, the firm reported owning 5,619K shares, representing a decrease of 0.56%. The firm decreased its portfolio allocation in NVT by 76.23% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 5,144K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 4,865K shares, representing an increase of 5.43%. The firm increased its portfolio allocation in NVT by 12.32% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,067K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 4,982K shares, representing an increase of 1.68%. The firm increased its portfolio allocation in NVT by 14.31% over the last quarter.

FRDAX - Franklin Rising Dividends Fund Advisor Class holds 5,009K shares representing 3.02% ownership of the company. No change in the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,292K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 4,227K shares, representing an increase of 1.51%. The firm increased its portfolio allocation in NVT by 14.40% over the last quarter.

nVent Electric Background Information
(This description is provided by the company.)

nVent is a leading global provider of electrical connection and protection solutions. The Company believes its inventive electrical solutions enable safer systems and ensure a more secure world. It designs, manufactures, markets, installs and services high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. The Company offers a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Its principal office is in London and its management office in the United States is in Minneapolis. Its robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.

This story originally appeared on Fintel.