nVent Electric (NVT) Price Target Increased by 7.42% to 71.40

The average one-year price target for nVent Electric (NYSE:NVT) has been revised to 71.40 / share. This is an increase of 7.42% from the prior estimate of 66.47 dated January 16, 2024.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 64.64 to a high of 77.70 / share. The average price target represents an increase of 7.90% from the latest reported closing price of 66.17 / share.

nVent Electric Declares $0.19 Dividend

On December 12, 2023 the company declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Shareholders of record as of January 19, 2024 received the payment on February 2, 2024. Previously, the company paid $0.18 per share.

At the current share price of $66.17 / share, the stock's dividend yield is 1.15%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.42%, the lowest has been 1.19%, and the highest has been 5.08%. The standard deviation of yields is 0.80 (n=233).

The current dividend yield is 1.59 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.22. 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's 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1113 funds or institutions reporting positions in nVent Electric. This is an increase of 46 owner(s) or 4.31% in the last quarter. Average portfolio weight of all funds dedicated to NVT is 0.31%, a decrease of 5.68%. Total shares owned by institutions increased in the last three months by 0.06% to 184,378K shares. NVT / nVent Electric plc Put/Call Ratios The put/call ratio of NVT is 0.20, indicating a bullish outlook.

What are Other Shareholders Doing?

NVT / nVent Electric plc Shares Held by Institutions

Franklin Resources holds 5,748K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 5,742K shares, representing an increase of 0.10%. The firm decreased its portfolio allocation in NVT by 76.86% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 5,181K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 5,025K shares, representing an increase of 3.00%. The firm increased its portfolio allocation in NVT by 3.62% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,121K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 5,203K shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in NVT by 4.77% over the last quarter.

FRDAX - Franklin Rising Dividends Fund Advisor Class holds 4,935K shares representing 2.97% ownership of the company. No change in the last quarter.

Nuveen Asset Management holds 4,798K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 4,174K shares, representing an increase of 13.00%. The firm decreased its portfolio allocation in NVT by 30.44% 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.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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