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

Shares of nVent Electric plc (NYSE:NVT) have received a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $86.33.

Several research firms have recently issued reports on NVT. Barclays increased their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Citigroup boosted their target price on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada increased their price target on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday.

nVent Electric Stock Up 1.0 %

NVT stock opened at $71.37 on Tuesday. The business’s 50 day simple moving average is $73.88 and its 200 day simple moving average is $71.64. nVent Electric has a 1-year low of $55.19 and a 1-year high of $86.57. The firm has a market capitalization of $11.76 billion, a PE ratio of 20.93, a PEG ratio of 3.86 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data 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 analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. As a group, research analysts anticipate that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.20 dividend. The ex-dividend date is Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.12%. nVent Electric’s payout ratio is 23.46%.

Insider Activity at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction 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. The trade was a 18.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 in the last quarter. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB lifted its position in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of nVent Electric during the 4th quarter worth approximately $273,000. GAMMA Investing LLC boosted its stake in shares of nVent Electric by 27.4% in the 4th quarter. GAMMA Investing LLC now owns 1,994 shares of the company’s stock worth $136,000 after buying an additional 429 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after acquiring an additional 28,876 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

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.