nVent Electric PLC (NYSE:NVT) has been assigned an average recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.83.
A number of equities research analysts have recently weighed in on the company. Buckingham Research lowered their price target on nVent Electric from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. KeyCorp restated a “buy” rating and set a $29.00 price objective on shares of nVent Electric in a research note on Monday, November 25th. Royal Bank of Canada downgraded shares of nVent Electric from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $30.00 to $24.00 in a report on Tuesday, October 1st. Rosenblatt Securities reiterated a “buy” rating and set a $29.00 target price on shares of nVent Electric in a research note on Sunday, November 24th. Finally, Zacks Investment Research raised shares of nVent Electric from a “sell” rating to a “hold” rating in a report on Saturday.
NVT traded up $0.41 during trading on Friday, hitting $24.62. The company had a trading volume of 737,156 shares, compared to its average volume of 1,214,237. The company has a market cap of $4.16 billion, a PE ratio of 14.15 and a beta of 1.70. The business has a 50-day moving average of $23.49 and a 200-day moving average of $22.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.84 and a quick ratio of 1.25. nVent Electric has a 1-year low of $19.04 and a 1-year high of $28.49.
nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $559.80 million during the quarter, compared to analyst estimates of $554.44 million. nVent Electric had a net margin of 11.07% and a return on equity of 11.85%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Research analysts forecast that nVent Electric will post 1.75 earnings per share for the current year.
In related news, Director Randall J. Hogan sold 204,605 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $23.97, for a total value of $4,904,381.85. Also, Director William T. Monahan sold 6,116 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $24.97, for a total value of $152,716.52. Following the transaction, the director now owns 50,523 shares of the company’s stock, valued at approximately $1,261,559.31. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Covington Capital Management increased its holdings in shares of nVent Electric by 43.0% in the 3rd quarter. Covington Capital Management now owns 1,430 shares of the company’s stock worth $32,000 after acquiring an additional 430 shares during the period. Institutional & Family Asset Management LLC grew its position in nVent Electric by 15.0% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 3,842 shares of the company’s stock worth $85,000 after purchasing an additional 500 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of nVent Electric by 4.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,700 shares of the company’s stock valued at $389,000 after purchasing an additional 600 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of nVent Electric by 2.1% in the third quarter. Commonwealth Equity Services LLC now owns 31,456 shares of the company’s stock valued at $693,000 after purchasing an additional 648 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in shares of nVent Electric by 5.1% during the second quarter. D.A. Davidson & CO. now owns 15,230 shares of the company’s stock valued at $378,000 after buying an additional 735 shares during the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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