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

nVent Electric plc (NYSE:NVT - Get Free Report) has been given an average rating of "Buy" by the seven analysts that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $70.00.

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Royal Bank of Canada lifted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. The Goldman Sachs Group reduced their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st.

nVent Electric Stock Performance

nVent Electric stock opened at $66.27 on Friday. The firm's 50 day simple moving average is $57.88 and its 200-day simple moving average is $63.90. The company has a market cap of $10.91 billion, a P/E ratio of 33.81, a price-to-earnings-growth 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. nVent Electric has a fifty-two week low of $41.71 and a fifty-two week high of $82.05.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The business 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 quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. As a group, equities research analysts predict that nVent Electric will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is currently 22.86%.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 4,041 shares of the business's 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 now 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nVent Electric

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank increased its holdings in nVent Electric by 4.5% in the 1st quarter. First Hawaiian Bank now owns 37,388 shares of the company's stock valued at $1,960,000 after buying an additional 1,618 shares during the period. Strs Ohio bought a new stake in nVent Electric in the 1st quarter valued at $5,294,000. Geneos Wealth Management Inc. increased its holdings in nVent Electric by 436.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company's stock valued at $56,000 after buying an additional 872 shares during the period. Intech Investment Management LLC increased its holdings in nVent Electric by 36.3% in the 1st quarter. Intech Investment Management LLC now owns 117,705 shares of the company's stock valued at $6,170,000 after buying an additional 31,355 shares during the period. Finally, Focus Partners Wealth increased its holdings in nVent Electric by 2.7% in the 1st quarter. Focus Partners Wealth now owns 122,969 shares of the company's stock valued at $6,446,000 after buying an additional 3,212 shares during the period. Institutional investors own 90.05% of the company's stock.

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.

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