nVent Electric plc (NYSE:NVT) Given Average Recommendation of “Moderate Buy” by Brokerages

nVent Electric plc (NYSE:NVT) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $89.00.

Several equities analysts have issued reports on NVT shares. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. Citigroup raised their price target on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Barclays upped their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Royal Bank of Canada cut their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Finally, The Goldman Sachs Group raised their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th.

nVent Electric Stock Performance

NYSE:NVT opened at $75.59 on Thursday. The stock’s 50-day moving average is $78.45 and its 200-day moving average is $69.54. nVent Electric has a 1-year low of $45.60 and a 1-year high of $86.57. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12.55 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.79 and a beta of 1.31.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. nVent Electric’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. Equities research analysts anticipate that nVent Electric will post 3.27 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s payout ratio is currently 22.16%.

Institutional Trading of nVent Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in NVT. FinTrust Capital Advisors LLC grew its stake 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 valued at $62,000 after buying an additional 157 shares during the last quarter. HMS Capital Management LLC lifted its stake in shares of nVent Electric by 3.2% in the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after purchasing an additional 183 shares during the period. Private Advisor Group LLC boosted its position in shares of nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after purchasing an additional 191 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of nVent Electric by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after purchasing an additional 200 shares in the last quarter. Finally, Quent Capital LLC grew its stake in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the period. 90.05% of the stock is currently owned by institutional investors.

About nVent Electric

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.