nVent Electric plc (NYSE:NVT) Given Consensus Recommendation of “Buy” by Analysts

Shares of nVent Electric plc (NYSE:NVT) have been given an average recommendation of “Buy” by the six research firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $85.50.

A number of equities research analysts have commented on NVT shares. Royal Bank of Canada reduced their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Citigroup lifted their price target 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. KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Barclays raised their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th.

nVent Electric Stock Performance

NYSE:NVT opened at $69.61 on Friday. The firm has a market capitalization of $11.47 billion, a P/E ratio of 20.41, a P/E/G ratio of 3.86 and a beta of 1.25. nVent Electric has a twelve month low of $55.19 and a twelve month high of $86.57. The company has a fifty day moving average of $74.97 and a 200-day moving average of $72.48. 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 (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. As a group, sell-side analysts anticipate that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, January 17th. This represents a $0.80 annualized dividend and a yield of 1.15%. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio is 22.29%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the sale, the chief accounting officer now directly 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 96,382 shares of company stock worth $7,365,956. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC raised its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. ORG Partners LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in nVent Electric in the third quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings 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. Finally, First Foundation Advisors purchased a new stake in nVent Electric in the second quarter worth $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.