nVent Electric plc (NYSE:NVT) Given Consensus Rating of “Buy” by Analysts

Shares of nVent Electric plc (NYSE:NVTGet Free Report) have been given an average rating of “Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $86.33.

A number of equities analysts have weighed in on NVT shares. Citigroup increased their target price on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays raised their price target on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th.

View Our Latest Report on NVT

nVent Electric Trading Up 1.0 %

NYSE:NVT opened at $71.37 on Tuesday. nVent Electric has a 12 month low of $55.19 and a 12 month high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $73.88 and its 200 day moving average is $71.64. The stock has a market capitalization of $11.76 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27.

nVent Electric (NYSE:NVTGet Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Sell-side analysts expect that nVent Electric will post 2.5 earnings per share for the current year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.20 dividend. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, January 17th. nVent Electric’s dividend payout ratio is currently 23.46%.

Insiders Place Their Bets

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Several large investors have recently added to or reduced their stakes in NVT. Nordea Investment Management AB boosted its stake in shares of nVent Electric by 16.9% during the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of nVent Electric in the 4th quarter valued at approximately $273,000. GAMMA Investing LLC boosted its position in shares of nVent Electric by 27.4% during the fourth quarter. GAMMA Investing LLC now owns 1,994 shares of the company’s stock valued at $136,000 after purchasing an additional 429 shares in the last quarter. Principal Financial Group Inc. grew its stake in nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after purchasing an additional 28,876 shares during the period. Finally, Franklin Resources Inc. grew its stake in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the period. Institutional investors own 90.05% of the company’s stock.

About nVent Electric

(Get Free Report

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.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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