nVent Electric (NYSE:NVT) Stock Rating Raised to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of nVent Electric (NYSE:NVT) to a hold rating in a report released on Thursday morning,Zacks reports.

Several other research analysts have also issued reports on the company. Melius Research assumed coverage on nVent Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $214.00 target price for the company. Clear Str upgraded nVent Electric to a “strong-buy” rating in a report on Monday, July 13th. Wolfe Research reissued an “outperform” rating and set a $191.00 price target on shares of nVent Electric in a research note on Thursday, July 9th. Seaport Research Partners restated a “buy” rating and set a $215.00 price objective on shares of nVent Electric in a report on Monday, August 3rd. Finally, Citigroup upped their price objective on nVent Electric from $203.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, nVent Electric presently has an average rating of “Buy” and an average target price of $198.67.

nVent Electric Trading Up 0.9%

Shares of NVT opened at $164.30 on Thursday. The company’s fifty day simple moving average is $156.87 and its 200-day simple moving average is $151.48. The company has a market cap of $26.59 billion, a P/E ratio of 44.89, a P/E/G ratio of 1.37 and a beta of 1.36. The company has a current ratio of 1.80, a quick ratio of 1.33 and a debt-to-equity ratio of 0.37. nVent Electric has a twelve month low of $93.22 and a twelve month high of $184.64.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, July 31st. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.29. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.26 billion. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. nVent Electric has set its Q3 2026 guidance at 1.350-1.380 EPS and its FY 2026 guidance at 5.000-5.100 EPS. As a group, analysts expect that nVent Electric will post 5.13 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.5%. nVent Electric’s dividend payout ratio is presently 22.95%.

Insider Activity

In other news, CAO Randolph Wacker sold 22,525 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $164.62, for a total transaction of $3,708,065.50. Following the transaction, the chief accounting officer owned 27,441 shares in the company, valued at approximately $4,517,337.42. This trade represents a 45.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Beth Wozniak sold 46,261 shares of nVent Electric stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $164.42, for a total value of $7,606,233.62. Following the completion of the sale, the chief executive officer owned 55,612 shares of the company’s stock, valued at $9,143,725.04. The trade was a 45.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 74,644 shares of company stock worth $12,276,886. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Several hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in shares of nVent Electric by 4.9% during the second quarter. State Street Corp now owns 5,313,122 shares of the company’s stock valued at $901,159,000 after purchasing an additional 250,248 shares in the last quarter. Geode Capital Management LLC increased its holdings in nVent Electric by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 3,125,289 shares of the company’s stock valued at $318,752,000 after buying an additional 217,485 shares during the period. Norges Bank bought a new position in nVent Electric in the fourth quarter worth approximately $245,955,000. Bank of New York Mellon Corp raised its stake in nVent Electric by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock worth $238,758,000 after buying an additional 68,818 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in nVent Electric by 32.8% during the first quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock worth $200,647,000 after buying an additional 419,239 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Company Profile

nVent Electric plc (NYSE:NVT) is a global provider of electrical connection and protection solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of electrical infrastructure across industrial, commercial, residential, data center, energy and infrastructure applications.

Its product portfolio includes electrical and electronic enclosures, thermal-management systems, cable-management products, grounding and bonding equipment, electrical connections, fastening systems and other installation solutions.