Analysts Set nVent Electric plc (NYSE:NVT) Price Target at $83.33

Shares of nVent Electric plc (NYSE:NVT) have received an average rating of “Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $83.33.

NVT has been the topic of several recent research reports. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup decreased their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays cut their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, March 17th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVT. Wealth Enhancement Advisory Services LLC grew its stake in nVent Electric by 8.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,732 shares of the company’s stock worth $2,299,000 after purchasing an additional 2,759 shares during the period. Siemens Fonds Invest GmbH bought a new position in shares of nVent Electric during the 4th quarter worth approximately $75,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric during the 4th quarter worth approximately $38,000. Capital A Wealth Management LLC bought a new stake in shares of nVent Electric in the 4th quarter valued at $27,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of nVent Electric by 145.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock valued at $99,961,000 after acquiring an additional 869,906 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Trading Down 0.3 %

NYSE NVT opened at $58.41 on Friday. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. nVent Electric has a twelve month low of $51.99 and a twelve month high of $86.57. 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 business’s fifty day moving average is $63.20 and its 200 day moving average is $69.01.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, sell-side analysts expect 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, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. nVent Electric’s payout ratio is currently 40.82%.

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.