nVent Electric plc (NYSE:NVT) Receives $83.33 Consensus Price Target from Analysts

Shares of nVent Electric plc (NYSE:NVT - Get Free Report) have been given an average rating of "Buy" by the seven research firms that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $82.00.

Several equities analysts have commented on NVT shares. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Barclays reduced their target price on nVent Electric from $83.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research report on Monday, March 17th. Finally, Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st.

nVent Electric Stock Down 4.4 %

Shares of nVent Electric stock traded down $2.58 during trading on Friday, hitting $55.87. 2,242,878 shares of the stock traded hands, compared to its average volume of 2,289,695. The stock has a market cap of $9.22 billion, a P/E ratio of 28.50, a PEG ratio of 1.48 and a beta of 1.31. The company has a fifty day moving average price of $63.20 and a two-hundred day moving average price of $69.01. nVent Electric has a twelve month low of $51.99 and a twelve month high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

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nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts predict that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's dividend payout ratio is currently 40.82%.

Institutional Investors Weigh In On nVent Electric

Several hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC grew its position in nVent Electric by 4.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock worth $259,000 after purchasing an additional 150 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after purchasing an additional 162 shares during the period. Calamos Advisors LLC raised its stake in shares of nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock valued at $782,000 after buying an additional 176 shares in the last quarter. Larson Financial Group LLC raised its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Finally, Utah Retirement Systems lifted its stake in nVent Electric by 2.3% during the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after purchasing an additional 200 shares during the period. 90.05% of the stock is owned by institutional investors.

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.