nVent Electric plc (NYSE:NVT) Given Average Recommendation of “Buy” by Brokerages

nVent Electric plc (NYSE:NVT) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $86.50.

A number of analysts have recently commented on NVT shares. Royal Bank of Canada cut their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Barclays increased their price target on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Finally, KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research report on Wednesday, September 4th.

nVent Electric Trading Up 0.2 %

NVT opened at $70.92 on Friday. The stock has a market capitalization of $11.77 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. nVent Electric has a 12 month low of $45.60 and a 12 month high of $86.57. The firm’s fifty day simple moving average is $66.77 and its 200 day simple moving average is $73.37.

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

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Activity

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

Institutional Trading of nVent Electric

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in shares of nVent Electric by 15.5% in the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after acquiring an additional 10,135 shares during the period. Federated Hermes Inc. boosted its holdings in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after purchasing an additional 25,482 shares during the period. Mountain Pacific Investment Advisers Inc. ID grew its position in shares of nVent Electric by 85.1% during the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock worth $8,794,000 after purchasing an additional 53,633 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock worth $14,344,000 after purchasing an additional 8,489 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of nVent Electric by 18.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after buying an additional 46,748 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

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.