nVent Electric PLC (NYSE:NVT) Given Consensus Recommendation of "Buy" by Brokerages

Shares of nVent Electric PLC (NYSE:NVT - Get Free Report) have been assigned an average recommendation of "Buy" from the seven analysts that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $70.67.

A number of research analysts have recently commented on NVT shares. The Goldman Sachs Group lowered their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Royal Bank Of Canada increased their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Barclays upped their target price on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Citigroup lowered their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president owned 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On nVent Electric

A number of large investors have recently bought and sold shares of NVT. Farther Finance Advisors LLC lifted its position in shares of nVent Electric by 381.0% during the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock worth $106,000 after purchasing an additional 1,581 shares during the last quarter. LPL Financial LLC lifted its holdings in nVent Electric by 12.6% during the 4th quarter. LPL Financial LLC now owns 140,043 shares of the company's stock valued at $9,545,000 after buying an additional 15,685 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in nVent Electric by 6.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company's stock valued at $1,429,000 after buying an additional 1,591 shares during the period. Haverford Trust Co grew its stake in nVent Electric by 0.8% in the 4th quarter. Haverford Trust Co now owns 553,146 shares of the company's stock worth $37,702,000 after acquiring an additional 4,538 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of nVent Electric by 41.4% during the first quarter. Fifth Third Bancorp now owns 2,811 shares of the company's stock worth $147,000 after acquiring an additional 823 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

NVT stock traded up $1.47 during mid-day trading on Tuesday, hitting $74.91. The company had a trading volume of 993,219 shares, compared to its average volume of 1,951,431. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.43 and a beta of 1.31. nVent Electric has a 12-month low of $41.71 and a 12-month high of $81.55. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $65.93 and a 200 day moving average price of $63.11.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business's revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, research analysts anticipate that nVent Electric will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. nVent Electric's dividend payout ratio is presently 22.86%.

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.