nVent Electric plc (NYSE:NVT) Receives $89.00 Consensus PT from Brokerages

nVent Electric plc (NYSE:NVT) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $89.00.

A number of equities analysts have weighed in on NVT shares. The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. Royal Bank of Canada decreased their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Finally, Barclays raised their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th.

nVent Electric Stock Performance

NYSE NVT opened at $76.61 on Thursday. The business’s 50-day moving average price is $78.70 and its 200 day moving average price is $69.86. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a market capitalization of $12.72 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.76 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. During the same period in the prior year, the firm posted $0.67 EPS. The company’s revenue was up 18.0% on a year-over-year basis. On average, research analysts predict that nVent Electric will post 3.27 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

Institutional Trading of nVent Electric

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG raised its stake in nVent Electric by 40.5% during the third quarter. UBS Group AG now owns 44,173 shares of the company’s stock worth $2,341,000 after acquiring an additional 12,742 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of nVent Electric in the 3rd quarter worth approximately $280,000. LPL Financial LLC boosted its position in nVent Electric by 2.0% during the 3rd quarter. LPL Financial LLC now owns 172,171 shares of the company’s stock valued at $9,123,000 after purchasing an additional 3,418 shares during the period. Mariner LLC grew its stake in nVent Electric by 10.1% during the 3rd quarter. Mariner LLC now owns 24,649 shares of the company’s stock worth $1,306,000 after buying an additional 2,263 shares during the last quarter. Finally, Stifel Financial Corp increased its position in nVent Electric by 11.2% in the third quarter. Stifel Financial Corp now owns 104,155 shares of the company’s stock worth $5,519,000 after buying an additional 10,487 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.