nVent Electric plc (NYSE:NVT) Receives $86.17 Consensus Target Price from Analysts

Shares of nVent Electric plc (NYSE:NVT) have received a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $86.33.

A number of equities research analysts have weighed in on the company. KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Barclays upped their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th.

Insider Activity at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of nVent Electric

Hedge funds have recently modified their holdings of the business. Creative Planning lifted its stake in nVent Electric by 32.8% in the 2nd quarter. Creative Planning now owns 19,914 shares of the company’s stock worth $1,526,000 after acquiring an additional 4,921 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of nVent Electric by 53.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,107 shares of the company’s stock worth $468,000 after purchasing an additional 2,140 shares in the last quarter. Quarry LP boosted its holdings in shares of nVent Electric by 341.1% during the second quarter. Quarry LP now owns 644 shares of the company’s stock worth $49,000 after purchasing an additional 498 shares during the period. B. Riley Wealth Advisors Inc. grew its position in nVent Electric by 4.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 12,415 shares of the company’s stock valued at $951,000 after purchasing an additional 519 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in nVent Electric by 15.0% in the 2nd quarter. Cetera Investment Advisers now owns 53,004 shares of the company’s stock valued at $4,061,000 after buying an additional 6,901 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $67.85 on Friday. nVent Electric has a one year low of $56.44 and a one year high of $86.57. The stock’s fifty day moving average is $70.89 and its 200-day moving average is $70.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 3.02 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. Equities analysts anticipate that nVent Electric will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a dividend of $0.20 per share. The ex-dividend date was Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. nVent Electric’s payout ratio is 23.46%.

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.