nVent Electric plc (NYSE:NVT) Receives $70.00 Consensus PT from Analysts

Shares of nVent Electric plc (NYSE:NVT) have been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $70.00.

NVT has been the subject of a number of recent research reports. KeyCorp increased their price objective on nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Barclays boosted their target price on nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Citigroup cut their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th.

nVent Electric Stock Performance

Shares of NVT opened at $67.54 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm’s 50 day moving average is $55.10 and its 200-day moving average is $64.57. nVent Electric has a 12-month low of $41.71 and a 12-month high of $86.57. The stock has a market capitalization of $11.12 billion, a P/E ratio of 34.46, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to analysts’ expectations of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Equities research analysts anticipate that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.18%. nVent Electric’s payout ratio is 22.86%.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVT. SVB Wealth LLC acquired a new position in nVent Electric during the first quarter valued at $25,000. Crews Bank & Trust acquired a new position in nVent Electric during the fourth quarter valued at $26,000. Capital A Wealth Management LLC acquired a new position in nVent Electric during the fourth quarter valued at $27,000. Whipplewood Advisors LLC raised its position in nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in nVent Electric during the first quarter valued at $36,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.