Brokerages Set nVent Electric plc (NYSE:NVT) Price Target at $83.33

Shares of nVent Electric plc (NYSE:NVT) have earned an average recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $83.33.

Several research analysts have weighed in on NVT shares. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Finally, Barclays cut their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd.

nVent Electric Price Performance

Shares of NVT opened at $58.41 on Friday. The company’s 50-day moving average is $63.20 and its 200-day moving average is $69.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market capitalization of $9.64 billion, a PE ratio of 29.80, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric has a fifty-two week low of $51.99 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities analysts forecast that nVent Electric will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. nVent Electric’s dividend payout ratio is 40.82%.

Institutional Investors Weigh In On nVent Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVT. Crews Bank & Trust acquired a new position in shares of nVent Electric during the 4th quarter worth $26,000. Larson Financial Group LLC grew 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 valued at $27,000 after acquiring an additional 181 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in nVent Electric during the fourth quarter worth about $27,000. Park Square Financial Group LLC bought a new position in shares of nVent Electric in the fourth quarter worth about $38,000. Finally, Brooklyn Investment Group acquired a new stake in shares of nVent Electric in the 3rd quarter valued at approximately $44,000. 90.05% of the stock is currently owned by 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.