nVent Electric plc (NYSE:NVT) Given Average Recommendation of “Buy” by Analysts

Shares of nVent Electric plc (NYSE:NVT) have earned an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $86.17.

A number of equities research analysts have weighed in on NVT shares. KeyCorp lifted their target price 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 lifted their price target on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Citigroup reduced their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Barclays boosted their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th.

Insiders Place Their Bets

In related news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nVent Electric

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the 4th quarter worth about $26,000. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric during the 3rd quarter worth approximately $29,000. UMB Bank n.a. boosted its holdings in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 308 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its holdings in shares of nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after purchasing an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Up 1.2 %

NVT opened at $63.68 on Friday. The company has a fifty day moving average of $71.36 and a 200-day moving average of $70.44. nVent Electric has a twelve month low of $56.44 and a twelve month high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The stock has a market cap of $10.50 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 3.02 and a beta of 1.26.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. nVent Electric’s payout ratio is presently 23.46%.

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.