nVent Electric plc (NYSE:NVT) Receives $81.60 Average Price Target from Analysts

nVent Electric plc (NYSE:NVT) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $81.60.

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada increased their price objective on nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price on the stock. Barclays increased their price objective on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised their price target on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, March 15th.

Insiders Place Their Bets

In other news, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares in the company, valued at approximately $2,313,114.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock worth $25,713,777 in the last three months. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of nVent Electric by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock worth $619,079,000 after buying an additional 302,124 shares in the last quarter. BlackRock Inc. grew its stake in nVent Electric by 0.8% in the first quarter. BlackRock Inc. now owns 15,251,841 shares of the company’s stock valued at $654,914,000 after purchasing an additional 128,168 shares in the last quarter. FMR LLC boosted its stake in shares of nVent Electric by 41.8% during the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock worth $347,405,000 after acquiring an additional 1,932,142 shares in the last quarter. State Street Corp boosted its stake in shares of nVent Electric by 1.7% during the 1st quarter. State Street Corp now owns 4,842,509 shares of the company’s stock worth $207,932,000 after acquiring an additional 81,399 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of nVent Electric by 14.9% during the 4th quarter. Nuveen Asset Management LLC now owns 4,797,742 shares of the company’s stock worth $283,499,000 after acquiring an additional 623,666 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $72.54 on Friday. nVent Electric has a 1-year low of $40.19 and a 1-year high of $78.98. The stock has a market cap of $12.04 billion, a PE ratio of 21.53, a P/E/G ratio of 1.60 and a beta of 1.35. The firm has a 50-day simple moving average of $70.19 and a two-hundred day simple moving average of $60.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts forecast that nVent Electric will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.05%. nVent Electric’s dividend payout ratio is presently 22.55%.

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.