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

nVent Electric plc (NYSE:NVT) has been assigned an average rating of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $70.67.

Several analysts have issued reports on the stock. Barclays upped their price target on shares of nVent Electric from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup dropped their price target on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group dropped their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada upped their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Finally, Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVT. SVB Wealth LLC acquired a new position in shares of nVent Electric during the 1st quarter worth approximately $25,000. Capital A Wealth Management LLC acquired a new position in shares of nVent Electric during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC lifted 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 worth $32,000 after acquiring an additional 500 shares during the period. Hughes Financial Services LLC bought a new stake in shares of nVent Electric during the 1st quarter worth approximately $36,000. Finally, Park Square Financial Group LLC bought a new stake in shares of nVent Electric during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT stock opened at $68.03 on Friday. The company’s fifty day simple moving average is $58.83 and its 200-day simple moving average is $63.64. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market cap of $11.20 billion, a PE ratio of 34.71, a P/E/G ratio of 1.48 and a beta of 1.30. nVent Electric has a 12 month low of $41.71 and a 12 month high of $82.05.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Equities research analysts expect that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. nVent Electric’s dividend payout ratio (DPR) is currently 22.86%.

nVent Electric Company Profile

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.