nVent Electric plc (NYSE:NVT - Get Free Report) has been given a consensus recommendation of "Buy" by the seven ratings firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $70.00.
A number of equities analysts recently issued reports on the company. Citigroup dropped their price objective on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. KeyCorp upped their target price on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. 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 report on Wednesday, April 2nd. Finally, CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a report on Monday, March 17th.
Get Our Latest Analysis on NVT
Insider Transactions at nVent Electric
In other news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president now directly owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. SVB Wealth LLC bought a new position in shares of nVent Electric in the 1st quarter worth $25,000. Crews Bank & Trust acquired a new position in nVent Electric during the 4th quarter valued at about $26,000. Capital A Wealth Management LLC acquired a new position in nVent Electric during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC increased its position in nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after buying an additional 500 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in nVent Electric during the 1st quarter valued at about $36,000. 90.05% of the stock is owned by institutional investors.
nVent Electric Trading Up 0.2%
Shares of nVent Electric stock traded up $0.16 on Monday, reaching $67.01. The company had a trading volume of 228,558 shares, compared to its average volume of 1,933,001. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 1.48 and a beta of 1.24. 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's 50-day moving average price is $54.85 and its two-hundred day moving average price is $64.75. nVent Electric has a 1 year low of $41.71 and a 1 year high of $86.57.
nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same quarter in the previous year, the business earned $0.78 EPS. nVent Electric's revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that nVent Electric will post 3.04 earnings per share for the current fiscal year.
nVent Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. nVent Electric's payout ratio is 22.86%.
About nVent Electric
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Get Free ReportnVent 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.
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