nVent Electric plc (NYSE:NVT) Receives $86.17 Average Price Target from Analysts

nVent Electric plc (NYSE:NVT) has been given a consensus rating of “Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $86.17.

A number of brokerages recently commented on NVT. Royal Bank of Canada raised their target price on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Citigroup dropped their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays boosted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th.

Insider Transactions at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

Hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC raised its position in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the fourth quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new position in nVent Electric during the third quarter worth $29,000. UMB Bank n.a. lifted its stake in nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 308 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Price Performance

NYSE NVT opened at $63.68 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 3.02 and a beta of 1.26. The business’s fifty day moving average price is $71.36 and its 200-day moving average price is $70.44. nVent Electric has a 1-year low of $56.44 and a 1-year high of $86.57.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

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.