nVent Electric plc (NYSE:NVT) Receives $89.00 Average PT from Analysts

nVent Electric plc (NYSE:NVT) has earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $89.00.

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Barclays boosted their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Citigroup upped their target price on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Royal Bank of Canada dropped their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th.

nVent Electric Price Performance

NVT stock opened at $70.54 on Monday. nVent Electric has a 52 week low of $45.60 and a 52 week high of $86.57. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $78.34 and a two-hundred day simple moving average of $72.25. The firm has a market capitalization of $11.71 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same quarter last year, the business earned $0.67 earnings per share. nVent Electric’s quarterly revenue was up 18.0% compared to the same quarter last year. Analysts anticipate that nVent Electric will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.08%. nVent Electric’s dividend payout ratio is currently 22.16%.

Hedge Funds Weigh In On nVent Electric

Several institutional investors have recently bought and sold shares of NVT. Railway Pension Investments Ltd bought a new stake in nVent Electric during the second quarter valued at about $12,723,000. Addison Capital Co boosted its holdings in shares of nVent Electric by 8.7% in the 2nd quarter. Addison Capital Co now owns 11,200 shares of the company’s stock valued at $858,000 after buying an additional 900 shares in the last quarter. Calamos Wealth Management LLC purchased a new position in shares of nVent Electric in the 2nd quarter worth approximately $745,000. Ceredex Value Advisors LLC raised its stake in shares of nVent Electric by 37.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 497,550 shares of the company’s stock worth $38,117,000 after acquiring an additional 134,400 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG purchased a new stake in nVent Electric during the second quarter valued at approximately $878,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.