nVent Electric plc (NYSE:NVT) Receives $86.50 Average Target Price from Analysts

nVent Electric plc (NYSE:NVT) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $86.50.

NVT has been the topic of a number of analyst reports. Barclays boosted their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada cut 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.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nVent Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after buying an additional 155 shares during the last quarter. FinTrust Capital Advisors LLC boosted its holdings in shares of nVent Electric by 17.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after purchasing an additional 157 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after buying an additional 272 shares during the period. Anchor Investment Management LLC raised its stake in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after purchasing an additional 280 shares in the last quarter. Finally, Sciencast Management LP lifted its stake in nVent Electric by 7.1% in the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock valued at $332,000 after acquiring an additional 293 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NYSE NVT opened at $68.81 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. nVent Electric has a 1 year low of $45.60 and a 1 year high of $86.57. The firm’s fifty day moving average price is $66.45 and its two-hundred day moving average price is $73.40. The firm has a market capitalization of $11.42 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The company had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts anticipate that nVent Electric will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.16%.

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.