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

nVent Electric plc (NYSE:NVT) has been given an average rating of “Buy” by the six analysts that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $86.17.

Several brokerages have recently commented on NVT. Royal Bank of Canada boosted their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Barclays boosted 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. KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Citigroup reduced their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th.

Insiders Place Their Bets

In other news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake 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 during the last quarter. Crews Bank & Trust acquired a new position in nVent Electric during the fourth quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in nVent Electric in the third quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares in the last quarter. Finally, Anchor Investment Management LLC increased its position in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $65.16 on Friday. The firm has a market capitalization of $10.74 billion, a PE ratio of 19.11, a PEG ratio of 2.96 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 has a 1-year low of $56.44 and a 1-year high of $86.57. The business’s 50 day moving average is $72.23 and its 200-day moving average is $70.80.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Sell-side analysts predict that nVent Electric will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is currently 23.46%.

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.