nVent Electric plc (NYSE:NVT) Receives $70.00 Consensus PT from Analysts

Shares of nVent Electric plc (NYSE:NVT) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $70.00.

Several research analysts have recently commented on NVT shares. 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. The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Barclays lifted their target price on nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, KeyCorp lifted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Crews Bank & Trust acquired a new position in nVent Electric during the 4th quarter worth $26,000. Capital A Wealth Management LLC acquired a new position in nVent Electric during the 4th quarter worth $27,000. SVB Wealth LLC acquired a new position in nVent Electric during the 1st quarter worth $25,000. Park Square Financial Group LLC acquired a new position in nVent Electric during the 4th quarter worth $38,000. Finally, Whipplewood Advisors LLC boosted its position in nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock worth $32,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE NVT opened at $67.54 on Monday. nVent Electric has a fifty-two week low of $41.71 and a fifty-two week high of $86.57. The business has a 50 day moving average price of $55.10 and a two-hundred day moving average price of $64.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market cap of $11.12 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. nVent Electric’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Sell-side analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. nVent Electric’s dividend payout ratio is currently 22.86%.

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.