Analysts Set nVent Electric plc (NYSE:NVT) Target Price at $86.33

nVent Electric plc (NYSE:NVT - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $86.33.

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective 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. KeyCorp raised their price objective on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Citigroup upped their target price on nVent Electric from $78.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada lifted their price target on shares of nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday.

nVent Electric Price Performance

Shares of nVent Electric stock traded down $0.92 on Tuesday, reaching $70.41. 1,225,181 shares of the stock were exchanged, compared to its average volume of 1,190,695. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The firm has a market cap of $11.60 billion, a PE ratio of 20.65, a P/E/G ratio of 3.86 and a beta of 1.27. The firm's 50 day moving average is $73.81 and its 200-day moving average is $71.59. nVent Electric has a one year low of $55.19 and a one year high of $86.57.

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

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $0.20 dividend. This is a positive change from nVent Electric's previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. nVent Electric's dividend payout ratio is presently 23.46%.

Insider Activity

In other news, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares of the company's stock, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last quarter. Insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On nVent Electric

Institutional investors have recently bought and sold shares of the company. Diversified Trust Co purchased a new stake in nVent Electric during the fourth quarter valued at about $536,000. Nordea Investment Management AB boosted its holdings in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock worth $6,378,000 after acquiring an additional 13,483 shares during the period. Everence Capital Management Inc. purchased a new position in shares of nVent Electric in the fourth quarter valued at $273,000. GAMMA Investing LLC raised its stake in shares of nVent Electric by 27.4% during the 4th quarter. GAMMA Investing LLC now owns 1,994 shares of the company's stock valued at $136,000 after purchasing an additional 429 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in nVent Electric by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock worth $123,891,000 after purchasing an additional 28,876 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Company Profile

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.