nVent Electric plc (NYSE:NVT) Receives Consensus Recommendation of “Buy” from Analysts

nVent Electric plc (NYSE:NVT) has earned an average recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $85.50.

NVT has been the subject of several recent analyst reports. Citigroup decreased their price objective 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 decreased their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Royal Bank of Canada lifted their price objective 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.

nVent Electric Stock Performance

Shares of NVT stock opened at $55.12 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric has a 52 week low of $53.30 and a 52 week high of $86.57. The stock has a market capitalization of $9.10 billion, a PE ratio of 28.12, a P/E/G ratio of 1.48 and a beta of 1.31. The firm has a 50 day moving average of $67.19 and a two-hundred day moving average of $69.99.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, research analysts predict that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.45%. nVent Electric’s dividend payout ratio is currently 40.82%.

Institutional Investors Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Siemens Fonds Invest GmbH acquired a new stake in nVent Electric during the 4th quarter worth $75,000. Park Square Financial Group LLC acquired a new position in nVent Electric in the fourth quarter valued at $38,000. Capital A Wealth Management LLC acquired a new position in nVent Electric in the fourth quarter valued at $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in nVent Electric by 145.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock valued at $99,961,000 after purchasing an additional 869,906 shares during the period. Finally, Waverly Advisors LLC increased its stake in nVent Electric by 1.1% in the fourth quarter. Waverly Advisors LLC now owns 78,884 shares of the company’s stock valued at $5,377,000 after purchasing an additional 828 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.