nVent Electric plc (NYSE:NVT) Given Average Rating of “Buy” by Analysts

Shares of nVent Electric plc (NYSE:NVT) have earned an average rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $85.50.

Several analysts recently commented on NVT shares. Royal Bank of Canada reduced their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. KeyCorp lifted 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 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 note on Monday. Finally, Barclays upped their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

nVent Electric Price Performance

NVT stock opened at $75.58 on Friday. The firm has a market capitalization of $12.46 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 3.96 and a beta of 1.25. nVent Electric has a 52 week low of $55.19 and a 52 week high of $86.57. 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 company has a fifty day simple moving average of $74.69 and a two-hundred day simple moving average of $72.83.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million during 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 firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. Analysts anticipate that nVent Electric will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. nVent Electric’s dividend payout ratio is 22.29%.

Insider Buying and Selling at nVent Electric

In other news, 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 transaction of $524,640.00. Following the transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction that occurred 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 directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Several institutional investors have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after purchasing an additional 155 shares during the last quarter. CIBC Asset Management Inc raised its stake in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after acquiring an additional 166 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Huntington National Bank grew its holdings in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. Finally, Anchor Investment Management LLC increased its holdings in shares of nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares in the last quarter. 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.