Analysts Set nVent Electric plc (NYSE:NVT) PT at $81.60

nVent Electric plc (NYSE:NVT) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $81.60.

A number of research firms have weighed in on NVT. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price on the stock. The Goldman Sachs Group increased their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Citigroup boosted their target price on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their target price on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Barclays lifted their price target on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd.

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the transaction, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 400,252 shares of company stock worth $25,713,777. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its stake in nVent Electric by 9.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock valued at $383,000 after acquiring an additional 923 shares in the last quarter. AlphaCrest Capital Management LLC grew its position in shares of nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after purchasing an additional 3,093 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of nVent Electric by 15.4% in the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock worth $1,514,000 after purchasing an additional 5,807 shares during the last quarter. Bank of Montreal Can lifted its position in shares of nVent Electric by 10.6% in the first quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock worth $768,000 after buying an additional 2,072 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of nVent Electric by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock worth $2,144,000 after buying an additional 5,879 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT stock opened at $71.64 on Friday. The firm has a market capitalization of $11.89 billion, a PE ratio of 21.26, a P/E/G ratio of 1.56 and a beta of 1.35. The company has a 50 day moving average price of $70.48 and a 200-day moving average price of $60.37. nVent Electric has a 52 week low of $40.19 and a 52 week high of $78.98. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. As a group, equities research analysts expect that nVent Electric will post 3.24 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is 22.55%.

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.