Brokerages Set nVent Electric plc (NYSE:NVT) Price Target at $86.50

Shares of nVent Electric plc (NYSE:NVT) have been assigned an average rating of “Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $85.00.

A number of brokerages recently issued reports on NVT. Barclays dropped their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Finally, Royal Bank of Canada lowered their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

Insider Transactions at nVent Electric

In related news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of nVent Electric 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 completion of the transaction, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVT. Nordea Investment Management AB increased its stake in shares of nVent Electric by 15.5% during the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock worth $5,684,000 after purchasing an additional 10,135 shares during the period. Federated Hermes Inc. lifted its holdings in shares of nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after buying an additional 25,482 shares in the last quarter. Mountain Pacific Investment Advisers Inc. ID lifted its holdings in shares of nVent Electric by 85.1% during the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock worth $8,794,000 after buying an additional 53,633 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of nVent Electric by 4.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after acquiring an additional 8,489 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in nVent Electric by 18.0% during the first 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 during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Performance

Shares of NVT stock opened at $67.71 on Friday. 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 has a 52 week low of $45.60 and a 52 week high of $86.57. The company’s 50 day moving average price is $66.33 and its two-hundred day moving average price is $73.33. The company has a market capitalization of $11.24 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million for 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 company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, analysts expect that nVent Electric will post 3.26 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

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.