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

Shares of nVent Electric plc (NYSE:NVTGet Free Report) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $87.00.

NVT has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. Barclays upped their target price on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group upped their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Citigroup upped their target price on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th.

Read Our Latest Stock Report on nVent Electric

nVent Electric Price Performance

NVT opened at $81.38 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric has a 52-week low of $43.21 and a 52-week high of $86.57. The company has a 50 day moving average of $77.29 and a two-hundred day moving average of $66.47. The company has a market cap of $13.51 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.91 and a beta of 1.35.

nVent Electric (NYSE:NVTGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. During the same period in the previous year, the firm earned $0.67 earnings per share. nVent Electric’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts expect that nVent Electric will post 3.27 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 0.93%. nVent Electric’s dividend payout ratio is presently 22.16%.

Institutional Trading of nVent Electric

Several institutional investors have recently added to or reduced their stakes in NVT. Private Advisor Group LLC acquired a new stake in nVent Electric in the third quarter valued at $319,000. Assenagon Asset Management S.A. acquired a new stake in nVent Electric in the third quarter valued at $1,595,000. Jump Financial LLC raised its holdings in nVent Electric by 90.8% in the third quarter. Jump Financial LLC now owns 13,408 shares of the company’s stock valued at $710,000 after acquiring an additional 6,379 shares in the last quarter. New York State Common Retirement Fund raised its holdings in nVent Electric by 91.6% in the third quarter. New York State Common Retirement Fund now owns 319,318 shares of the company’s stock valued at $16,921,000 after acquiring an additional 152,685 shares in the last quarter. Finally, Keybank National Association OH acquired a new stake in shares of nVent Electric during the third quarter worth $622,000. 90.05% of the stock is owned by institutional investors and hedge funds.

About nVent Electric

(Get Free Report

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.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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