nVent Electric PLC (NYSE:NVT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

nVent Electric PLC (NYSE:NVT) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $139.6250.

A number of research firms have weighed in on NVT. Royal Bank Of Canada raised their price target on nVent Electric from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, March 19th. Glj Research began coverage on nVent Electric in a research report on Thursday, March 5th. They set a “buy” rating and a $151.00 price objective for the company. Weiss Ratings upgraded nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 11th. UBS Group restated a “buy” rating and set a $135.00 target price on shares of nVent Electric in a research note on Friday, March 13th. Finally, Wall Street Zen downgraded nVent Electric from a “strong-buy” rating to a “buy” rating in a report on Monday, February 23rd.

Insider Activity at nVent Electric

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the transaction, the director owned 13,405 shares in the company, valued at $1,535,140.60. This represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jerry W. Burris sold 5,244 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the transaction, the director directly owned 46,371 shares in the company, valued at approximately $5,206,072.17. The trade was a 10.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,841 shares of company stock valued at $2,046,166 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Trading of nVent Electric

Several institutional investors and hedge funds have recently made changes to their positions in NVT. Geode Capital Management LLC grew its stake in nVent Electric by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 3,125,289 shares of the company’s stock worth $318,752,000 after buying an additional 217,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of nVent Electric by 361.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,577,555 shares of the company’s stock valued at $262,835,000 after acquiring an additional 2,019,483 shares during the period. Norges Bank acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $245,955,000. Bank of New York Mellon Corp grew its position in shares of nVent Electric by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,949,761 shares of the company’s stock worth $198,817,000 after acquiring an additional 234,755 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its holdings in shares of nVent Electric by 2.4% in the 3rd quarter. Clark Capital Management Group Inc. now owns 1,830,406 shares of the company’s stock valued at $180,551,000 after acquiring an additional 43,502 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Trading Up 2.7%

Shares of NYSE:NVT opened at $121.47 on Thursday. nVent Electric has a 52 week low of $41.71 and a 52 week high of $129.94. The company’s 50 day moving average is $115.21 and its two-hundred day moving average is $107.70. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. The company has a market cap of $19.64 billion, a PE ratio of 28.25, a P/E/G ratio of 1.23 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1 billion. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The company’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. Equities analysts predict that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, April 24th. nVent Electric’s payout ratio is currently 19.53%.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.