nVent Electric plc (NYSE:NVT) Receives Average Rating of “Buy” from Brokerages

nVent Electric plc (NYSE:NVT) has earned a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is $85.33.

Several research analysts have issued reports on the company. KeyCorp increased their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada dropped their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Barclays dropped their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd.

nVent Electric Trading Down 1.5 %

NYSE NVT opened at $72.82 on Monday. The stock has a market capitalization of $12.00 billion, a P/E ratio of 21.35, a P/E/G ratio of 3.75 and a beta of 1.26. The business has a 50 day simple moving average of $71.40 and a 200 day simple moving average of $73.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric has a one year low of $52.26 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Research analysts expect that nVent Electric will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. nVent Electric’s payout ratio is currently 22.29%.

Insider Transactions at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,824 shares of company stock worth $6,841,316 in the last quarter. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

Large investors have recently made changes to their positions in the stock. Swedbank AB bought a new stake in nVent Electric during the 3rd quarter worth approximately $110,663,000. Millennium Management LLC boosted its stake in nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after buying an additional 828,425 shares during the period. Clean Energy Transition LLP grew its position in nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after buying an additional 813,909 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after acquiring an additional 673,990 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after acquiring an additional 466,042 shares in the last quarter. 90.05% of the stock is owned by 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.