nVent Electric plc (NYSE:NVT) Given Consensus Rating of “Buy” by Brokerages

Shares of nVent Electric plc (NYSE:NVT) have been given an average recommendation of “Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $85.33.

A number of research analysts recently issued reports on NVT shares. KeyCorp lifted their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada decreased their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, Barclays decreased their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd.

Insider Buying and Selling

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,824 shares of company stock worth $6,841,316. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Kingsview Wealth Management LLC bought a new stake in nVent Electric during the first quarter worth $258,000. Blair William & Co. IL bought a new stake in shares of nVent Electric during the first quarter worth $229,000. Edgestream Partners L.P. lifted its stake in shares of nVent Electric by 91.6% in the 1st quarter. Edgestream Partners L.P. now owns 24,929 shares of the company’s stock valued at $1,880,000 after acquiring an additional 11,916 shares during the last quarter. Oxford Financial Group LTD. LLC acquired a new stake in shares of nVent Electric during the 1st quarter valued at $294,000. Finally, Natixis Investment Managers International raised its holdings in nVent Electric by 23.3% in the 1st quarter. Natixis Investment Managers International now owns 15,362 shares of the company’s stock valued at $1,158,000 after buying an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

NVT opened at $72.82 on Monday. The business has a fifty day simple moving average of $71.40 and a 200-day simple moving average of $73.23. 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 firm has a market cap of $12.00 billion, a PE ratio of 21.35, a P/E/G ratio of 3.75 and a beta of 1.26. nVent Electric has a fifty-two week low of $52.26 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same period last year, the company earned $0.84 earnings per share. nVent Electric’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that nVent Electric will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. nVent Electric’s dividend payout ratio (DPR) is currently 22.29%.

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.