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

Shares of nVent Electric plc (NYSE:NVT) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $81.60.

A number of brokerages recently commented on NVT. Royal Bank of Canada lifted their price objective on nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Citigroup lifted their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group lifted their target price on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Barclays lifted their target price on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price on the stock.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $74.17 on Friday. nVent Electric has a 1 year low of $40.19 and a 1 year high of $78.98. The firm has a market capitalization of $12.31 billion, a PE ratio of 22.01, a P/E/G ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The business’s 50 day moving average price is $69.57 and its 200-day moving average price is $59.69.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. During the same quarter last year, the business posted $0.66 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that nVent Electric will post 3.24 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.55%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 4,008 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the sale, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The disclosure for this sale can be found here. Insiders sold a total of 400,252 shares of company stock valued at $25,713,777 in the last ninety days. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

Large investors have recently modified their holdings of the business. Citigroup Inc. raised its stake in shares of nVent Electric by 73.9% during the 3rd quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock worth $3,782,000 after buying an additional 30,325 shares in the last quarter. Mariner LLC raised its stake in shares of nVent Electric by 10.1% during the 3rd quarter. Mariner LLC now owns 24,649 shares of the company’s stock worth $1,306,000 after buying an additional 2,263 shares in the last quarter. LPL Financial LLC grew its holdings in shares of nVent Electric by 2.0% in the 3rd quarter. LPL Financial LLC now owns 172,171 shares of the company’s stock worth $9,123,000 after acquiring an additional 3,418 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in shares of nVent Electric by 45.0% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,395 shares of the company’s stock worth $614,000 after acquiring an additional 3,226 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of nVent Electric by 10.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,006,320 shares of the company’s stock worth $53,325,000 after acquiring an additional 91,709 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.