nVent Electric PLC (NYSE:NVT) Receives Average Rating of "Buy" from Analysts

Key Points

• nVent Electric PLC has received a consensus recommendation of “Buy” from eight brokerages, with an average 12-month price target of $81.57.
• The company reported quarterly earnings of $0.67 per share, exceeding expectations, alongside revenue of $809.30 million, marking a 10.5% increase from the previous year.
• nVent Electric is set to pay a quarterly dividend of $0.20 per share, with a yield of 1.02%, to shareholders on record by July 18th.

Shares of nVent Electric PLC (NYSE:NVT - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $81.57.

Several equities research analysts have recently weighed in on NVT shares. Roth Capital started coverage on shares of nVent Electric in a research report on Wednesday. They issued a "buy" rating and a $89.00 price target for the company. Wall Street Zen raised shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. The Goldman Sachs Group upped their price target on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. KeyCorp upped their price target on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada boosted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th.

nVent Electric Price Performance

nVent Electric stock opened at $78.66 on Friday. The firm has a 50-day moving average of $70.92 and a two-hundred day moving average of $63.74. nVent Electric has a 1 year low of $41.71 and a 1 year high of $81.20. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42.

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

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, July 18th. nVent Electric's payout ratio is 22.86%.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction 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 directly owned 32,665 shares of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. 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 insiders.

Hedge Funds Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVT. SVB Wealth LLC purchased a new position in nVent Electric during the first quarter valued at $25,000. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $27,000. Whipplewood Advisors LLC raised its position in shares of nVent Electric by 467.3% in the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after buying an additional 500 shares during the last quarter. Trust Co. of Vermont raised its position in shares of nVent Electric by 57.8% in the second quarter. Trust Co. of Vermont now owns 434 shares of the company's stock valued at $32,000 after buying an additional 159 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of nVent Electric in the first quarter valued at about $36,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

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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