nVent Electric plc (NYSE:NVT) Receives $85.33 Consensus Target Price from Analysts

Shares of nVent Electric plc (NYSE:NVT - Get Free Report) have earned an average recommendation of "Buy" from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $85.33.

Several research firms recently weighed in on NVT. KeyCorp lifted their price target on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Barclays lowered their price objective on nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price objective on nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th.

nVent Electric Stock Performance

Shares of NVT traded up $0.57 during mid-day trading on Monday, reaching $73.39. The company's stock had a trading volume of 2,584,300 shares, compared to its average volume of 1,586,457. nVent Electric has a 1-year low of $52.26 and a 1-year high of $86.57. The stock has a market cap of $12.10 billion, a P/E ratio of 21.46, a PEG ratio of 3.75 and a beta of 1.26. The business has a 50-day simple moving average of $71.40 and a two-hundred day simple moving average of $73.24. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. As a group, equities research analysts anticipate 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. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. nVent Electric's payout ratio is 22.29%.

Insider Activity

In related news, CAO Randolph A. Wacker sold 8,022 shares of the firm's stock in a transaction 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 owns 25,993 shares of the company's stock, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,824 shares of company stock worth $6,841,316. Insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVT. State Street Corp lifted its stake in shares of nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company's stock valued at $353,522,000 after purchasing an additional 42,465 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock valued at $374,201,000 after purchasing an additional 673,990 shares during the period. Boston Partners lifted its stake in shares of nVent Electric by 3.2% in the 1st quarter. Boston Partners now owns 3,325,834 shares of the company's stock valued at $250,770,000 after purchasing an additional 102,643 shares during the period. Geode Capital Management LLC lifted its stake in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock valued at $194,894,000 after purchasing an additional 29,794 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock valued at $171,492,000 after purchasing an additional 466,042 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

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.