Analysts Set nVent Electric plc (NYSE:NVT) Price Target at $86.33

Shares of nVent Electric plc (NYSE:NVT) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have covered the stock in the last year is $86.33.

A number of research firms have weighed in on NVT. Royal Bank of Canada boosted their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup upped their target price on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 9th.

Insider Activity at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock worth $7,365,956 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of nVent Electric by 6.6% in 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 during the period. Geode Capital Management LLC lifted its stake in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares in the last quarter. AQR Capital Management LLC boosted its stake in nVent Electric by 101.2% during the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock valued at $27,484,000 after buying an additional 180,488 shares during the last quarter. MQS Management LLC purchased a new stake in shares of nVent Electric during the 2nd quarter worth approximately $606,000. Finally, Seven Eight Capital LP bought a new stake in nVent Electric in the second quarter worth $1,119,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT opened at $69.85 on Tuesday. The firm has a market capitalization of $11.51 billion, a P/E ratio of 20.48, a P/E/G ratio of 3.86 and a beta of 1.27. The stock has a 50 day moving average price of $73.54 and a two-hundred day moving average price of $71.51. nVent Electric has a 52 week low of $55.19 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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 firm had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter last year, the business posted $0.84 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that nVent Electric will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, January 17th. This represents a $0.80 annualized dividend and a yield of 1.15%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio is presently 23.46%.

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.