nVent Electric PLC (NYSE:NVT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of nVent Electric PLC (NYSE:NVT) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $139.6250.

A number of brokerages have recently issued reports on NVT. Glj Research assumed coverage on shares of nVent Electric in a report on Thursday, March 5th. They set a “buy” rating and a $151.00 price target for the company. Citigroup upped their price objective on nVent Electric from $131.00 to $133.00 and gave the company a “buy” rating in a report on Monday, February 9th. Weiss Ratings raised nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 11th. Royal Bank Of Canada lifted their target price on nVent Electric from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, March 19th. Finally, Zacks Research lowered nVent Electric from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th.

nVent Electric Trading Up 2.7%

Shares of NVT stock opened at $121.47 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. nVent Electric has a twelve month low of $41.71 and a twelve month high of $129.94. The company’s 50-day moving average price is $115.21 and its 200-day moving average price is $107.70. The stock has a market cap of $19.64 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.23 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1 billion. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. nVent Electric’s revenue was up 41.9% compared to the same quarter last year. During the same period last year, the business earned $0.59 earnings per share. As a group, equities analysts predict that nVent Electric will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, April 24th. nVent Electric’s payout ratio is 19.53%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total transaction of $572,600.00. Following the completion of the transaction, the director owned 13,405 shares of the company’s stock, valued at $1,535,140.60. This trade represents a 27.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Beth Wozniak sold 7,597 shares of nVent Electric stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total transaction of $884,822.59. Following the sale, the chief executive officer owned 52,990 shares of the company’s stock, valued at approximately $6,171,745.30. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,841 shares of company stock valued at $2,046,166 over the last 90 days. 1.80% of the stock is owned by insiders.

Institutional Trading of nVent Electric

Institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of nVent Electric by 33.1% in the first quarter. AQR Capital Management LLC now owns 94,968 shares of the company’s stock valued at $4,841,000 after buying an additional 23,606 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of nVent Electric by 575.6% in the 1st quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company’s stock valued at $461,000 after buying an additional 7,500 shares during the period. Geneos Wealth Management Inc. grew its position in shares of nVent Electric by 436.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company’s stock worth $56,000 after buying an additional 872 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of nVent Electric by 48.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,443 shares of the company’s stock worth $106,000 after buying an additional 470 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of nVent Electric by 8.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,581 shares of the company’s stock worth $629,000 after buying an additional 696 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.