nVent Electric plc (NYSE:NVT) Receives $85.33 Consensus Price Target from Brokerages

nVent Electric plc (NYSE:NVT) has been given an average recommendation of “Buy” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have covered the stock in the last year is $85.33.

NVT has been the subject of several recent analyst reports. Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada lowered their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th.

nVent Electric Stock Performance

Shares of NVT stock opened at $74.27 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric has a 52 week low of $52.26 and a 52 week high of $86.57. The firm has a 50 day moving average of $71.90 and a 200-day moving average of $73.25. The company has a market cap of $12.24 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million for 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 company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, equities analysts forecast that nVent Electric will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors 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 dividend on an annualized basis and a yield of 1.02%. nVent Electric’s dividend payout ratio is presently 22.29%.

Insider Transactions at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,824 shares of company stock worth $6,841,316. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its position 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 valued at $27,000 after acquiring an additional 181 shares during the period. UMB Bank n.a. boosted its stake in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric during the 3rd quarter valued at approximately $29,000. ORG Partners LLC bought a new stake in nVent Electric in the 2nd quarter worth approximately $31,000. Finally, First Foundation Advisors purchased a new stake in shares of nVent Electric during the 2nd quarter worth approximately $34,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.