nVent Electric plc (NYSE:NVT) Receives Average Recommendation of “Buy” from Brokerages

Shares of nVent Electric plc (NYSE:NVT) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $86.33.

Several research firms have commented on NVT. KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Barclays lifted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th.

nVent Electric Stock Up 3.1 %

Shares of nVent Electric stock opened at $67.85 on Friday. The stock has a 50-day simple moving average of $70.89 and a 200-day simple moving average of $70.36. nVent Electric has a 52-week low of $56.44 and a 52-week high of $86.57. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 3.02 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. On average, equities research analysts expect that nVent Electric will post 2.49 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, January 17th. 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 dividend yield of 1.18%. nVent Electric’s payout ratio is 23.46%.

Insider Activity

In related news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of 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 position. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On nVent Electric

Institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB boosted its position 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 acquiring an additional 13,483 shares in the last quarter. Geode Capital Management LLC boosted its holdings in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after purchasing an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of nVent Electric in the 4th quarter valued at approximately $1,520,000. TT International Asset Management LTD raised its holdings in shares of nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after buying an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI lifted its position in shares of nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares during the period. Institutional investors 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.