nVent Electric PLC (NYSE:NVT) has received an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $25.83.
Several brokerages have recently weighed in on NVT. Buckingham Research decreased their price objective on nVent Electric from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Gabelli lowered nVent Electric from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research note on Friday, November 1st. Royal Bank of Canada cut nVent Electric from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $30.00 to $24.00 in a research report on Tuesday, October 1st. KeyCorp reaffirmed a “buy” rating and issued a $29.00 target price on shares of nVent Electric in a research report on Monday, November 25th. Finally, ValuEngine upgraded shares of nVent Electric from a “strong sell” rating to a “sell” rating in a research note on Tuesday.
In related news, Director Randall J. Hogan sold 204,605 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $23.97, for a total value of $4,904,381.85. Also, Director William T. Monahan sold 6,116 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $24.97, for a total value of $152,716.52. Following the completion of the sale, the director now owns 50,523 shares in the company, valued at $1,261,559.31. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NVT. WINTON GROUP Ltd acquired a new stake in shares of nVent Electric during the 2nd quarter worth about $386,000. Nisa Investment Advisors LLC lifted its position in nVent Electric by 16.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 53,170 shares of the company’s stock valued at $1,318,000 after purchasing an additional 7,600 shares during the period. Oregon Public Employees Retirement Fund lifted its position in nVent Electric by 1.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 65,794 shares of the company’s stock valued at $1,631,000 after purchasing an additional 922 shares during the period. W.E. Donoghue & Co. LLC bought a new position in shares of nVent Electric in the 2nd quarter valued at about $665,000. Finally, Brookstone Capital Management bought a new position in shares of nVent Electric in the 2nd quarter valued at about $442,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.
NVT stock traded up $0.41 during trading on Friday, reaching $24.62. 737,156 shares of the stock were exchanged, compared to its average volume of 1,214,237. nVent Electric has a twelve month low of $19.04 and a twelve month high of $28.49. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $4.16 billion, a P/E ratio of 14.15 and a beta of 1.70. The stock has a 50 day simple moving average of $23.49 and a 200-day simple moving average of $22.86.
nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $559.80 million during the quarter, compared to analysts’ expectations of $554.44 million. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities analysts predict that nVent Electric will post 1.75 EPS for the current year.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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