nVent Electric plc (NYSE:NVT) Receives Average Recommendation of “Buy” from Analysts

Shares of nVent Electric plc (NYSE:NVT) have earned a consensus recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $86.33.

A number of equities analysts have issued reports on NVT shares. Citigroup lifted their target price on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their price target on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Barclays upped their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th.

Insider Activity at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors have recently added to or reduced their stakes in NVT. Arizona State Retirement System lifted its stake in shares of nVent Electric by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 46,212 shares of the company’s stock valued at $3,540,000 after purchasing an additional 616 shares in the last quarter. Private Advisor Group LLC grew its stake in nVent Electric by 23.4% during the second quarter. Private Advisor Group LLC now owns 8,140 shares of the company’s stock worth $624,000 after buying an additional 1,542 shares during the period. Oak Thistle LLC acquired a new stake in shares of nVent Electric in the second quarter worth $256,000. Trium Capital LLP raised its stake in shares of nVent Electric by 138.1% in the 2nd quarter. Trium Capital LLP now owns 13,204 shares of the company’s stock valued at $1,012,000 after acquiring an additional 7,658 shares during the period. Finally, First Foundation Advisors acquired a new position in shares of nVent Electric during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $68.89 on Tuesday. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The business’s 50 day simple moving average is $73.55 and its 200-day simple moving average is $71.40. nVent Electric has a 12 month low of $55.19 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. As a group, equities analysts forecast that nVent Electric will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.