Brokerages Set nVent Electric plc (NYSE:NVT) PT at $85.50

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

A number of research analysts recently weighed in on NVT shares. KeyCorp increased their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada lowered their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Citigroup lifted their price objective on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays increased their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th.

nVent Electric Trading Down 0.7 %

NYSE:NVT opened at $75.03 on Friday. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 3.88 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average price is $74.96 and its 200-day moving average price is $72.63. nVent Electric has a 52 week low of $55.19 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 EPS 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 for the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the prior year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that nVent Electric will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.01%. nVent Electric’s payout ratio is 22.29%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 in the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in nVent Electric by 132.0% during the 2nd quarter. CWM LLC now owns 2,513 shares of the company’s stock valued at $193,000 after buying an additional 1,430 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of nVent Electric by 2.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,445 shares of the company’s stock valued at $2,332,000 after acquiring an additional 657 shares during the period. ORG Partners LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth about $31,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of nVent Electric by 10.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,720 shares of the company’s stock worth $1,128,000 after purchasing an additional 1,333 shares during the period. Finally, 1858 Wealth Management LLC bought a new position in nVent Electric during the 2nd quarter valued at about $847,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Company Profile

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.