Brokerages Set nVent Electric plc (NYSE:NVT) Target Price at $85.50

Shares of nVent Electric plc (NYSE:NVT) have been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have covered the stock in the last year is $85.50.

Several equities research analysts recently commented on the stock. KeyCorp boosted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays upped their target price 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. Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Citigroup upped their target price on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a report on Monday, December 9th.

nVent Electric Price Performance

nVent Electric stock opened at $72.62 on Friday. nVent Electric has a 52 week low of $55.19 and a 52 week high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $75.07 and its 200 day simple moving average is $72.52. The firm has a market capitalization of $11.97 billion, a PE ratio of 21.30, a P/E/G ratio of 3.86 and a beta of 1.25.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. nVent Electric’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts predict that nVent Electric will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio is presently 22.29%.

Insider Transactions at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on 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 owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock worth $7,365,956 in the last three months. Company insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently bought and sold shares of NVT. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric during the 3rd quarter valued at approximately $29,000. ORG Partners LLC purchased a new position in shares of nVent Electric during the 2nd quarter valued at approximately $31,000. Finally, First Foundation Advisors purchased a new position in shares of nVent Electric during the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.