nVent Electric plc (NYSE:NVT) Receives Consensus Rating of "Buy" from Analysts

nVent Electric plc (NYSE:NVT - Get Free Report) has been given a consensus recommendation of "Buy" by the seven analysts that are presently covering the company, 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 1 year target price among brokers that have issued a report on the stock in the last year is $70.00.

Several equities analysts have recently commented on NVT shares. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Barclays raised their target price on shares of nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group cut their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup cut their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, KeyCorp lifted their price target on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in shares of nVent Electric by 4.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock worth $259,000 after purchasing an additional 150 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its position in shares of nVent Electric by 1.1% during the first quarter. Alliance Wealth Advisors LLC UT now owns 14,192 shares of the company's stock worth $744,000 after purchasing an additional 159 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after purchasing an additional 176 shares in the last quarter. Finally, Utah Retirement Systems lifted its holdings in nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after buying an additional 200 shares during the period. Institutional investors own 90.05% of the company's stock.

nVent Electric Stock Up 2.4%

NYSE NVT traded up $1.62 during trading hours on Monday, hitting $68.16. The company had a trading volume of 4,026,628 shares, compared to its average volume of 1,930,610. 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 is $54.07 and its 200 day moving average is $64.76. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 1.48 and a beta of 1.24. nVent Electric has a fifty-two week low of $41.71 and a fifty-two week 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 for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. Sell-side analysts anticipate that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. nVent Electric's dividend payout ratio is presently 22.86%.

About nVent Electric

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.