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

Shares of nVent Electric plc (NYSE:NVT) have been given a consensus recommendation of “Buy” by the seven research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $69.00.

Several research firms recently weighed in on NVT. Barclays dropped their price target on nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. KeyCorp dropped their target price on nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Citigroup decreased their price target on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a report on Monday. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, March 17th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Crews Bank & Trust acquired a new position in nVent Electric during the fourth quarter worth $26,000. Capital A Wealth Management LLC bought a new stake in shares of nVent Electric during the 4th quarter worth about $27,000. Whipplewood Advisors LLC increased its holdings in shares of nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Park Square Financial Group LLC bought a new position in shares of nVent Electric in the 4th quarter valued at approximately $38,000. Finally, Tsfg LLC bought a new position in shares of nVent Electric in the 4th quarter valued at approximately $51,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

NVT stock opened at $49.59 on Thursday. nVent Electric has a one year low of $41.71 and a one year high of $86.57. The firm has a 50-day moving average of $56.70 and a two-hundred day moving average of $66.87. The firm has a market capitalization of $8.16 billion, a PE ratio of 25.30, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, analysts forecast that nVent Electric will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

About nVent Electric

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.