nVent Electric plc (NYSE:NVT) Receives $85.67 Consensus Price Target from Brokerages

Shares of nVent Electric plc (NYSE:NVT) have earned an average rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $85.67.

Several research firms have issued reports on NVT. KeyCorp raised their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Barclays decreased their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NVT. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric in the first quarter worth $26,000. UMB Bank n.a. boosted its position in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC acquired a new stake in nVent Electric in the 3rd quarter valued at $29,000. ORG Partners LLC purchased a new position in nVent Electric in the second quarter valued at about $31,000. Finally, First Foundation Advisors acquired a new position in shares of nVent Electric during the second quarter worth about $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Up 2.0 %

Shares of nVent Electric stock opened at $74.83 on Thursday. The business has a 50 day moving average price of $68.91 and a 200 day moving average price of $73.13. The company has a market capitalization of $12.44 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. nVent Electric has a 1 year low of $46.63 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Sell-side analysts anticipate that nVent Electric will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric’s payout ratio is 22.22%.

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.