nVent Electric plc (NYSE:NVT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of nVent Electric plc (NYSE:NVT) have earned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. Six research 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 objective among brokers that have covered the stock in the last year is $82.00.

NVT has been the subject of a number of recent analyst reports. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, March 17th. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays reduced their price objective on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings in shares of nVent Electric by 4.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after buying an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the last quarter. Calamos Advisors LLC increased its holdings in nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares in the last quarter. 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 last quarter. Finally, Utah Retirement Systems raised its position in nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after purchasing an additional 200 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Price Performance

NYSE:NVT opened at $54.61 on Friday. nVent Electric has a 52 week low of $51.99 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm’s 50-day simple moving average is $62.58 and its 200 day simple moving average is $68.82. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, sell-side analysts predict that nVent Electric will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.