nVent Electric plc (NYSE:NVT) Receives $85.33 Average Target Price from Brokerages

by · The Markets Daily

nVent Electric plc (NYSE:NVT – Get Free Report) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $85.33.

NVT has been the subject of several research analyst reports. Barclays dropped their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, KeyCorp raised their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th.

View Our Latest Stock Report on NVT

Insider Activity

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were 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 of the company’s stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,824 shares of company stock valued at $6,841,316. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TT International Asset Management LTD grew its stake in nVent Electric by 550.2% in the third quarter. TT International Asset Management LTD now owns 90,019 shares of the company’s stock worth $6,324,000 after purchasing an additional 76,175 shares during the period. Geode Capital Management LLC boosted its holdings in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of nVent Electric in the 3rd quarter worth about $6,900,000. Y Intercept Hong Kong Ltd bought a new position in shares of nVent Electric in the 3rd quarter worth about $583,000. Finally, World Investment Advisors LLC purchased a new position in nVent Electric during the 3rd quarter valued at about $20,426,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Up 0.5 %

nVent Electric stock opened at $78.34 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric has a fifty-two week low of $52.26 and a fifty-two week high of $86.57. The stock has a market cap of $12.91 billion, a P/E ratio of 22.97, a PEG ratio of 4.03 and a beta of 1.26. The firm’s fifty day moving average price is $72.62 and its 200-day moving average price is $73.23.

nVent Electric (NYSE:NVT – Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 earnings per share. Equities research analysts forecast that nVent Electric will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

nVent Electric Company Profile

(Get Free Report

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.

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