nVent Electric plc (NYSE:NVT) Given Average Recommendation of “Buy” by Analysts

nVent Electric plc (NYSE:NVT) has been given an average rating of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $85.67.

A number of research analysts recently commented on NVT shares. KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada reduced their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd.

Insider Activity

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Several large investors have recently modified their holdings of NVT. Massachusetts Financial Services Co. MA lifted its holdings in nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after buying an additional 673,990 shares during the period. Boston Partners lifted its holdings in nVent Electric by 3.2% in the first quarter. Boston Partners now owns 3,325,834 shares of the company’s stock worth $250,770,000 after buying an additional 102,643 shares during the period. Principal Financial Group Inc. lifted its holdings in nVent Electric by 2.5% in the second quarter. Principal Financial Group Inc. now owns 1,734,378 shares of the company’s stock worth $132,869,000 after buying an additional 42,391 shares during the period. Swedbank AB purchased a new stake in nVent Electric in the third quarter worth about $110,663,000. Finally, Millennium Management LLC lifted its holdings in nVent Electric by 159.9% in the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after buying an additional 828,425 shares during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Trading Down 0.6 %

Shares of NVT stock opened at $73.02 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. nVent Electric has a 52-week low of $45.60 and a 52-week high of $86.57. The company has a market capitalization of $12.14 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. The business’s fifty day moving average is $68.45 and its 200 day moving average is $73.18.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. On average, equities research analysts anticipate that nVent Electric will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. nVent Electric’s dividend payout ratio (DPR) is currently 22.22%.

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.