nVent Electric plc (NYSE:NVT) Receives Consensus Recommendation of “Buy” from Brokerages

nVent Electric plc (NYSE:NVT) has been given a consensus recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $86.33.

A number of equities research analysts recently weighed in on NVT shares. Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays increased their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th.

nVent Electric Stock Performance

NYSE NVT opened at $60.25 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $67.75 and its two-hundred day moving average is $70.14. nVent Electric has a 12-month low of $56.44 and a 12-month high of $86.57. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Research analysts expect that nVent Electric will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Crews Bank & Trust purchased a new position in nVent Electric in the fourth quarter valued at about $26,000. Larson Financial Group LLC raised its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. Capital A Wealth Management LLC purchased a new position in nVent Electric in the fourth quarter valued at about $27,000. Park Square Financial Group LLC purchased a new position in nVent Electric in the fourth quarter valued at about $38,000. Finally, Huntington National Bank grew its stake in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.