nVent Electric plc (NYSE:NVT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of nVent Electric plc (NYSE:NVT) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $87.00.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price target for the company. Citigroup increased their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. Barclays lifted their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lowered their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday. Finally, The Goldman Sachs Group upped their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday.

nVent Electric Stock Performance

Shares of NVT opened at $77.59 on Wednesday. The business has a 50-day simple moving average of $72.84 and a two-hundred day simple moving average of $62.39. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.63 and a beta of 1.35. nVent Electric has a 52 week low of $40.22 and a 52 week high of $78.98.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. On average, analysts expect that nVent Electric will post 3.25 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is presently 22.16%.

Insider Buying and Selling at nVent Electric

In other news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of 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. In the last quarter, insiders have sold 397,752 shares of company stock worth $25,553,202. 2.50% of the stock is owned by corporate insiders.

Institutional Trading of nVent Electric

Several institutional investors have recently bought and sold shares of NVT. FinTrust Capital Advisors LLC raised its position in shares of nVent Electric by 17.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after purchasing an additional 157 shares during the last quarter. HMS Capital Management LLC grew its holdings in nVent Electric by 3.2% in the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after buying an additional 183 shares in the last quarter. Private Advisor Group LLC increased its position in nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after purchasing an additional 191 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of nVent Electric by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock worth $2,352,000 after buying an additional 200 shares during the last quarter. Finally, Quent Capital LLC raised its position in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

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.