nVent Electric plc (NYSE:NVT) Receives Consensus Rating of “Buy” from Analysts

Shares of nVent Electric plc (NYSE:NVT) have been assigned an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $85.33.

NVT has been the topic of a number of analyst reports. Barclays cut their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,824 shares of company stock valued at $6,841,316 in the last three months. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVT. Federated Hermes Inc. lifted its position in shares of nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in nVent Electric by 18.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after purchasing an additional 46,748 shares in the last quarter. Cetera Investment Advisers boosted its stake in nVent Electric by 143.8% in the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares during the period. Gateway Investment Advisers LLC purchased a new position in nVent Electric during the 2nd quarter valued at about $1,608,000. Finally, Virtu Financial LLC bought a new stake in shares of nVent Electric during the first quarter valued at about $1,125,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

Shares of NVT opened at $78.34 on Monday. The stock has a market cap of $12.91 billion, a P/E ratio of 22.97, a P/E/G ratio of 3.89 and a beta of 1.26. The business’s fifty day moving average is $72.62 and its 200 day moving average is $73.31. 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 has a 12-month low of $52.26 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results 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). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the previous year, the business posted $0.84 EPS. nVent Electric’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that nVent Electric will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio is 22.29%.

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.