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

Key Points

• nVent Electric PLC (NYSE:NVT) has received a consensus rating of "Buy" from nine research firms, with an average 12-month target price of approximately $95.43.
• Recent institutional investments indicate strong interest in nVent, with 90.05% of shares owned by institutional investors and notable increases in holdings from several firms.
• nVent Electric has declared a quarterly dividend of $0.20 per share, set to be paid on November 7, 2023, marking an annualized dividend yield of 0.8%.

Shares of nVent Electric PLC (NYSE:NVT - Get Free Report) have earned a consensus recommendation of "Buy" from the nine research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $95.4286.

NVT has been the topic of a number of recent analyst reports. Wall Street Zen raised nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Roth Capital reaffirmed a "buy" rating and set a $100.00 price target (up previously from $89.00) on shares of nVent Electric in a report on Monday, August 4th. The Goldman Sachs Group lifted their price target on nVent Electric from $99.00 to $111.00 and gave the company a "buy" rating in a report on Tuesday, September 16th. Barclays boosted their price target on shares of nVent Electric from $100.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of nVent Electric in a research report on Wednesday.

Insider Activity at nVent Electric

In other nVent Electric news, CEO Beth Wozniak sold 42,331 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $89.21, for a total transaction of $3,776,348.51. Following the sale, the chief executive officer directly owned 49,196 shares in the company, valued at approximately $4,388,775.16. The trade was a 46.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sara E. Zawoyski sold 22,109 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the completion of the sale, the insider owned 66,640 shares in the company, valued at approximately $5,966,945.60. This trade represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,111 shares of company stock worth $23,367,520 in the last three months. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors and hedge funds have recently modified their holdings of NVT. UMB Bank n.a. raised its position in shares of nVent Electric by 107.0% during the first quarter. UMB Bank n.a. now owns 3,198 shares of the company's stock worth $168,000 after purchasing an additional 1,653 shares during the period. Park Avenue Securities LLC raised its position in shares of nVent Electric by 2.0% during the first quarter. Park Avenue Securities LLC now owns 14,645 shares of the company's stock worth $768,000 after purchasing an additional 291 shares during the period. Portside Wealth Group LLC raised its position in shares of nVent Electric by 7.0% during the first quarter. Portside Wealth Group LLC now owns 7,607 shares of the company's stock worth $399,000 after purchasing an additional 499 shares during the period. Farther Finance Advisors LLC raised its stake in nVent Electric by 381.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock valued at $106,000 after purchasing an additional 1,581 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in nVent Electric by 48.8% during the 1st quarter. Harbor Capital Advisors Inc. now owns 33,200 shares of the company's stock valued at $1,740,000 after purchasing an additional 10,895 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Trading Up 3.0%

Shares of NYSE NVT opened at $98.92 on Thursday. The company has a market cap of $15.92 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 1.43 and a beta of 1.38. nVent Electric has a 12-month low of $41.71 and a 12-month high of $101.76. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The stock's 50 day simple moving average is $92.96 and its 200 day simple moving average is $74.05.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. The company had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%.The business's revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. nVent Electric has set its Q3 2025 guidance at 0.860-0.880 EPS. FY 2025 guidance at 3.220-3.300 EPS. Equities research analysts expect that nVent Electric will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, October 17th. nVent Electric's payout ratio is 22.79%.

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.

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