nVent Electric plc (NYSE:NVT) Receives Consensus Rating of “Buy” from Brokerages

nVent Electric plc (NYSE:NVT) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $80.50.

Several research analysts recently weighed in on the company. KeyCorp dropped their price target on nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Citigroup reduced their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays lowered their price objective on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise boosted its holdings in nVent Electric by 152.3% in the third quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company’s stock worth $114,000 after purchasing an additional 978 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of nVent Electric in the third quarter worth about $2,877,000. Advisors Asset Management Inc. lifted its position in shares of nVent Electric by 5.1% in the third quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock worth $432,000 after buying an additional 301 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of nVent Electric by 137.1% during the 3rd quarter. Intech Investment Management LLC now owns 51,904 shares of the company’s stock worth $3,647,000 after acquiring an additional 30,017 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of nVent Electric by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock valued at $72,752,000 after acquiring an additional 3,599 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 3.1 %

Shares of NVT opened at $52.89 on Friday. The business’s 50-day moving average price is $62.19 and its 200 day moving average price is $68.80. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $8.73 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric has a 1-year low of $51.99 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly 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%. Analysts expect that nVent Electric will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.