Analysts Set nVent Electric plc (NYSE:NVT) Price Target at $86.33

Shares of nVent Electric plc (NYSE:NVT) have received a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $86.33.

NVT has been the topic of several recent research reports. KeyCorp raised their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Citigroup upped their price objective 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. Royal Bank of Canada raised their target price on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Barclays boosted their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th.

nVent Electric Stock Down 0.8 %

NVT opened at $69.85 on Tuesday. The firm’s fifty day moving average price is $73.54 and its two-hundred day moving average price is $71.51. nVent Electric has a fifty-two week low of $55.19 and a fifty-two week high of $86.57. The company has a market capitalization of $11.51 billion, a P/E ratio of 20.48, a P/E/G ratio of 3.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last released 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). The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, analysts anticipate that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The company 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 represents a $0.80 dividend on an annualized basis and a yield of 1.15%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio (DPR) is currently 23.46%.

Insider Buying and Selling

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 stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 18.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Several large investors have recently modified their holdings of NVT. Fulton Bank N.A. lifted its position in shares of nVent Electric by 10.2% during the 4th quarter. Fulton Bank N.A. now owns 9,487 shares of the company’s stock worth $647,000 after buying an additional 877 shares during the last quarter. Diversified Trust Co bought a new stake in nVent Electric in the fourth quarter valued at approximately $536,000. Nordea Investment Management AB increased 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 worth $6,378,000 after buying an additional 13,483 shares during the period. Everence Capital Management Inc. acquired a new stake in nVent Electric during the 4th quarter worth about $273,000. Finally, GAMMA Investing LLC increased its holdings in nVent Electric by 27.4% in the fourth quarter. GAMMA Investing LLC now owns 1,994 shares of the company’s stock worth $136,000 after purchasing an additional 429 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

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.