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

nVent Electric plc (NYSE:NVT) has been given a consensus recommendation of “Buy” by the six research firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $86.33.

NVT has been the topic of a number of analyst reports. Citigroup raised their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada upped their price objective on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th.

nVent Electric Trading Down 1.4 %

NVT opened at $68.89 on Tuesday. The business has a fifty day moving average price of $73.55 and a 200 day moving average price of $71.40. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric has a 12 month low of $55.19 and a 12 month high of $86.57. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 3.86 and a beta of 1.27.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Sell-side analysts expect that nVent Electric will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is currently 23.46%.

Insider Activity

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nVent Electric

Several large investors have recently modified their holdings of NVT. Franklin Resources Inc. boosted its holdings in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares in the last quarter. State Street Corp boosted its stake in shares of nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after buying an additional 42,465 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after acquiring an additional 673,990 shares during the period. Geode Capital Management LLC raised its position in nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after acquiring an additional 466,042 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

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.