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

nVent Electric plc (NYSE:NVT) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $89.00.

Several brokerages recently commented on NVT. Royal Bank of Canada dropped their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. The Goldman Sachs Group raised their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Citigroup raised their price objective on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Barclays raised their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th.

nVent Electric Stock Performance

nVent Electric stock opened at $70.54 on Monday. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.54 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. The stock’s 50-day moving average is $78.34 and its 200-day moving average is $72.47.

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

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a yield of 1.08%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds have recently bought and sold shares of NVT. Quent Capital LLC grew its position in shares of nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of nVent Electric in the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of nVent Electric in the 4th quarter worth approximately $28,000. ORG Partners LLC acquired a new position in shares of nVent Electric in the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC acquired a new position in shares of nVent Electric in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.