nVent Electric plc (NYSE:NVT) Receives $81.60 Consensus PT from Brokerages

nVent Electric plc (NYSE:NVT) has been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $81.60.

A number of equities analysts have recently weighed in on the company. Barclays boosted their target price on nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their target price on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Royal Bank of Canada raised their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Citigroup boosted their target price on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price target for the company.

Insider Transactions at nVent Electric

In related news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now directly owns 33,109 shares in the company, valued at approximately $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock worth $25,713,777 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norden Group LLC grew its stake in nVent Electric by 1,675.5% during the first quarter. Norden Group LLC now owns 258,615 shares of the company’s stock valued at $19,500,000 after acquiring an additional 244,049 shares in the last quarter. State of Michigan Retirement System boosted its holdings in nVent Electric by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 40,706 shares of the company’s stock valued at $3,069,000 after purchasing an additional 900 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in nVent Electric by 42.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 523,456 shares of the company’s stock valued at $39,468,000 after purchasing an additional 156,879 shares during the period. Congress Wealth Management LLC DE grew its position in shares of nVent Electric by 7.3% during the 1st quarter. Congress Wealth Management LLC DE now owns 255,741 shares of the company’s stock valued at $19,283,000 after purchasing an additional 17,416 shares in the last quarter. Finally, Park Place Capital Corp increased its holdings in shares of nVent Electric by 39.7% in the first quarter. Park Place Capital Corp now owns 1,749 shares of the company’s stock worth $132,000 after purchasing an additional 497 shares during the period. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Up 0.1 %

NVT stock opened at $71.64 on Friday. The stock’s 50 day moving average is $70.48 and its 200-day moving average is $60.37. nVent Electric has a twelve month low of $40.19 and a twelve month high of $78.98. The firm has a market capitalization of $11.89 billion, a PE ratio of 21.26, a P/E/G ratio of 1.56 and a beta of 1.35. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The firm had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. Sell-side analysts expect that nVent Electric will post 3.24 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 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. nVent Electric’s dividend payout ratio is presently 22.55%.

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.