nVent Electric PLC (NYSE:NVT) Stock Has Consensus Price Target of $197.12

Key Points

• Analysts are broadly positive: Of 20 firms covering nVent Electric, 15 rate it Buy and three Strong Buy; the average 12-month price target is $197.12.
• Latest quarterly results beat expectations: nVent reported EPS of $1.52 versus a $1.40 consensus estimate and revenue of $1.51 billion versus $1.43 billion; revenue rose 43.7% year over year.
• A company director purchased 3,000 shares for about $339,420, increasing his ownership by 17.8%. Institutional investors hold 90.05% of the stock.

Shares of nVent Electric PLC (NYSE:NVT - Get Free Report) have been given an average rating of "Buy" by the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $197.12.

A number of equities analysts have issued reports on NVT shares. Roth Capital reaffirmed a "buy" rating and set a $200.00 price objective on shares of nVent Electric in a report on Wednesday, October 28th. Robert W. Baird upped their target price on shares of nVent Electric from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Zacks Research upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Monday, November 2nd. BMO Capital Markets began coverage on shares of nVent Electric in a research report on Sunday, October 4th. They set an "outperform" rating and a $212.00 price target on the stock. Finally, KeyCorp restated an "overweight" rating on shares of nVent Electric in a report on Monday, November 2nd.

Insider Buying and Selling

In other news, Director Herbert Parker bought 3,000 shares of the company's stock in a transaction on Monday, November 9th. The shares were purchased at an average price of $113.14 per share, with a total value of $339,420.00. Following the transaction, the director directly owned 19,853 shares in the company, valued at $2,246,168.42. This represents a 17.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company's stock.

Institutional Trading of nVent Electric

Institutional investors and hedge funds have recently modified their holdings of the business. NorthRock Partners LLC raised its position in shares of nVent Electric by 1.0% during the 2nd quarter. NorthRock Partners LLC now owns 6,602 shares of the company's stock valued at $1,120,000 after buying an additional 66 shares in the last quarter. Sowell Financial Services LLC grew its position in nVent Electric by 1.7% in the second quarter. Sowell Financial Services LLC now owns 4,012 shares of the company's stock worth $680,000 after acquiring an additional 67 shares in the last quarter. AlTi Global Inc. grew its position in nVent Electric by 1.8% in the first quarter. AlTi Global Inc. now owns 4,081 shares of the company's stock worth $483,000 after acquiring an additional 74 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in nVent Electric by 0.9% during the first quarter. Meeder Advisory Services Inc. now owns 8,260 shares of the company's stock worth $977,000 after acquiring an additional 77 shares during the last quarter. Finally, Interchange Capital Partners LLC increased its stake in nVent Electric by 2.9% during the third quarter. Interchange Capital Partners LLC now owns 2,885 shares of the company's stock worth $463,000 after acquiring an additional 81 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Price Performance

NVT stock opened at $114.43 on Friday. The company has a market capitalization of $18.49 billion, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 0.58 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40. nVent Electric has a 52-week low of $93.22 and a 52-week high of $184.64. The business has a 50-day simple moving average of $145.44 and a two-hundred day simple moving average of $144.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Friday, October 30th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.40 by $0.12. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company's quarterly revenue was up 43.7% compared to the same quarter last year. Research analysts expect that nVent Electric will post 5.36 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Shareholders of record on Friday, October 23rd were paid a $0.21 dividend. The ex-dividend date was Friday, October 23rd. This represents a $0.84 annualized dividend and a yield of 0.7%. nVent Electric's dividend payout ratio (DPR) is 20.24%.

About nVent Electric

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.

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