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

nVent Electric plc (NYSE:NVT) has earned an average rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $87.80.

A number of equities analysts have issued reports on NVT shares. Royal Bank of Canada cut their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a report on Wednesday. Finally, Barclays lifted their price target on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th.

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the transaction, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Several institutional investors and hedge funds have recently modified their holdings of NVT. Norges Bank acquired a new position in nVent Electric during the 4th quarter worth $109,630,000. Balyasny Asset Management L.P. increased its holdings in shares of nVent Electric by 201.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock worth $82,802,000 after purchasing an additional 937,149 shares during the period. Schroder Investment Management Group bought a new position in shares of nVent Electric during the 4th quarter worth about $51,781,000. Millennium Management LLC increased its holdings in shares of nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after purchasing an additional 828,425 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Up 0.5 %

NYSE:NVT opened at $63.69 on Wednesday. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.30 and a beta of 1.31. nVent Electric has a one year low of $45.60 and a one year high of $86.57. The stock has a 50-day simple moving average of $70.46 and a 200 day simple moving average of $73.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. Sell-side analysts predict that nVent Electric will post 3.26 EPS for the current fiscal year.

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.