nVent Electric PLC (NYSE:NVT) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give nVent an average rating of Moderate Buy (11 buys, 1 hold) with a 12‑month average price target of $144, and several firms recently raised targets as high as $160.
• nVent beat expectations last quarter with $0.90 EPS vs. $0.89 and $1.07B revenue (up 41.9% year‑over‑year), and analysts project about $4.15 EPS for the current year.
• Insiders sold roughly 17,841 shares (~$2.05M) in the last quarter while institutional investors own 90.05% of the stock; the company pays a $0.21 quarterly dividend (0.6% yield, DPR ~19.5%).

nVent Electric PLC (NYSE:NVT - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $144.00.

A number of equities research analysts have commented on NVT shares. Weiss Ratings raised nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 11th. Citigroup raised their price objective on nVent Electric from $133.00 to $152.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Wolfe Research raised nVent Electric to an "outperform" rating in a research note on Monday, February 9th. Evercore started coverage on nVent Electric in a research note on Monday, April 13th. They issued an "outperform" rating and a $160.00 price objective for the company. Finally, Barclays raised their price objective on nVent Electric from $141.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, April 1st.

nVent Electric Trading Down 0.1%

Shares of NVT stock opened at $142.10 on Monday. The company has a market cap of $22.98 billion, a P/E ratio of 33.05, a PEG ratio of 1.48 and a beta of 1.28. The stock has a 50 day simple moving average of $121.01 and a two-hundred day simple moving average of $111.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.16 and a current ratio of 1.63. nVent Electric has a fifty-two week low of $53.03 and a fifty-two week high of $145.31.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Saturday, February 7th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The company's revenue for the quarter was up 41.9% compared to the same quarter last year. Research analysts forecast that nVent Electric will post 4.15 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, April 24th. nVent Electric's dividend payout ratio (DPR) is 19.53%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the sale, the director owned 13,405 shares of the company's stock, valued at approximately $1,535,140.60. This trade represents a 27.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Beth Wozniak sold 7,597 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the sale, the chief executive officer directly owned 52,990 shares of the company's stock, valued at $6,171,745.30. This trade represents a 12.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 17,841 shares of company stock valued at $2,046,166. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Global Trust Asset Management LLC purchased a new position in shares of nVent Electric during the third quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new position in shares of nVent Electric during the third quarter valued at approximately $31,000. Manchester Capital Management LLC boosted its position in shares of nVent Electric by 128.1% during the fourth quarter. Manchester Capital Management LLC now owns 308 shares of the company's stock valued at $31,000 after buying an additional 173 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of nVent Electric during the fourth quarter valued at approximately $32,000. Finally, Advisory Services Network LLC purchased a new position in shares of nVent Electric during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company's electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.

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