nVent Electric plc (NYSE:NVT) Receives $85.50 Average Price Target from Brokerages

Shares of nVent Electric plc (NYSE:NVT) have received a consensus rating of “Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $85.50.

A number of analysts recently weighed in on the stock. Barclays upped their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. KeyCorp upped their price target 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. 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. Finally, Citigroup increased their target price on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th.

nVent Electric Trading Down 0.7 %

Shares of NVT opened at $75.03 on Friday. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 3.88 and a beta of 1.25. The company has a 50-day moving average of $74.96 and a 200 day moving average of $72.63. nVent Electric has a 1-year low of $55.19 and a 1-year high of $86.57. 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 issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period last year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts expect that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

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

Insider Activity at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the company’s 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 in the company, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors and hedge funds have recently modified their holdings of NVT. Larson Financial Group LLC lifted its stake in 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. lifted its position 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 purchasing an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new stake in nVent Electric in the third quarter valued at $29,000. ORG Partners LLC acquired a new stake in nVent Electric during the 2nd quarter worth about $31,000. Finally, First Foundation Advisors purchased a new position in shares of nVent Electric during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.