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

nVent Electric plc (NYSE:NVT) has received an average rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $69.00.

A number of brokerages have recently issued reports on NVT. Royal Bank of Canada lifted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Citigroup dropped their price target on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, KeyCorp cut their price target on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors have recently modified their holdings of the business. Crews Bank & Trust bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $26,000. Capital A Wealth Management LLC bought a new position in nVent Electric during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in nVent Electric in the fourth quarter worth $38,000. Whipplewood Advisors LLC lifted its stake in nVent Electric by 467.3% in the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the last quarter. Finally, Tsfg LLC acquired a new position in shares of nVent Electric during the fourth quarter valued at $51,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE NVT opened at $48.33 on Thursday. 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 1-year low of $41.71 and a 1-year high of $86.57. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.48 and a beta of 1.21. The business has a 50-day moving average of $55.59 and a 200-day moving average of $66.43.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities analysts anticipate that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.66%. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

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.