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

nVent Electric plc (NYSE:NVT) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $89.00.

Several brokerages recently issued reports on NVT. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target for the company. Royal Bank of Canada reduced their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. The Goldman Sachs Group boosted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th.

Institutional Investors Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently modified their holdings of NVT. EverSource Wealth Advisors LLC grew its stake in nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after purchasing an additional 272 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of nVent Electric by 18.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after acquiring an additional 46,748 shares in the last quarter. Boston Partners increased its holdings in shares of nVent Electric by 3.2% in the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after acquiring an additional 102,643 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of nVent Electric by 58.6% in the 1st quarter. Cetera Advisors LLC now owns 8,596 shares of the company’s stock valued at $648,000 after acquiring an additional 3,177 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of nVent Electric by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock valued at $3,476,000 after acquiring an additional 27,196 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $75.09 on Thursday. The business has a 50-day moving average of $78.70 and a two-hundred day moving average of $69.95. The firm has a market capitalization of $12.47 billion, a PE ratio of 21.89, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. nVent Electric has a 12 month low of $45.60 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, research analysts forecast that nVent Electric will post 3.27 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a $0.19 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 1.01%. nVent Electric’s dividend payout ratio is presently 22.16%.

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.