nVent Electric plc (NYSE:NVT) Given Average Rating of “Moderate Buy” by Brokerages

nVent Electric plc (NYSE:NVT) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $87.00.

NVT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective for the company. Barclays increased their price target on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada reduced their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday. Citigroup increased their target price on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $77.59 on Wednesday. The business has a 50-day moving average of $72.84 and a two-hundred day moving average of $62.39. The firm has a market capitalization of $12.88 billion, a PE ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. nVent Electric has a 12 month low of $40.22 and a 12 month high of $78.98.

nVent Electric (NYSE:NVT) last posted its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the prior year, the company earned $0.67 EPS. The company’s revenue was up 18.0% on a year-over-year basis. As a group, research analysts forecast that nVent Electric will post 3.25 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. nVent Electric’s payout ratio is currently 22.16%.

Insider Transactions at nVent Electric

In related news, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares of the company’s stock, valued at $529,976.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Randall J. Hogan sold 184,572 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the sale, the director now directly owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 397,752 shares of company stock valued at $25,553,202. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On nVent Electric

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in nVent Electric during the first quarter valued at approximately $26,000. Quent Capital LLC raised its position in shares of nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after acquiring an additional 234 shares in the last quarter. Rise Advisors LLC bought a new position in nVent Electric during the first quarter worth $32,000. Livelsberger Financial Advisory acquired a new position in nVent Electric in the fourth quarter worth $28,000. Finally, HM Payson & Co. bought a new stake in nVent Electric during the third quarter valued at $26,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.