nVent Electric plc (NYSE:NVT) Receives Consensus Rating of “Buy” from Analysts

Shares of nVent Electric plc (NYSE:NVT) have been assigned a consensus recommendation of “Buy” from the six analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $85.33.

NVT has been the subject of a number of research reports. Barclays dropped their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada cut their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th.

nVent Electric Stock Performance

NYSE:NVT opened at $78.34 on Monday. nVent Electric has a twelve month low of $52.26 and a twelve month high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $72.62 and its 200 day simple moving average is $73.31. The firm has a market capitalization of $12.91 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 3.89 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced its quarterly 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 company had revenue of $782.00 million for 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 company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. On average, analysts anticipate that nVent Electric will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Insider Activity at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,824 shares of company stock worth $6,841,316 over the last ninety days. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its holdings in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. UMB Bank n.a. boosted its stake in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in nVent Electric in the third quarter worth $29,000. ORG Partners LLC bought a new stake in nVent Electric in the second quarter valued at $31,000. Finally, First Foundation Advisors acquired a new position in shares of nVent Electric during the second quarter valued at about $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.