Analysts Set nVent Electric plc (NYSE:NVT) PT at $89.00

Shares of nVent Electric plc (NYSE:NVT) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $89.00.

A number of brokerages have weighed in on NVT. The Goldman Sachs Group increased their price target on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Citigroup lifted their price target on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada dropped their price target on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th.

Institutional Trading of nVent Electric

Large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in nVent Electric by 15.5% in the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after acquiring an additional 10,135 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in nVent Electric during the 4th quarter worth $2,492,000. Jump Financial LLC lifted its holdings in nVent Electric by 194.1% in the 4th quarter. Jump Financial LLC now owns 39,432 shares of the company’s stock worth $2,330,000 after buying an additional 26,024 shares in the last quarter. Mountain Pacific Investment Advisers Inc. ID boosted its position in nVent Electric by 85.1% in the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock valued at $8,794,000 after buying an additional 53,633 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock worth $14,344,000 after acquiring an additional 8,489 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Trading Up 0.3 %

Shares of NVT stock opened at $70.54 on Monday. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.56 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $78.34 and a 200 day moving average price of $72.25. nVent Electric has a twelve month low of $45.60 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the business posted $0.67 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. Research analysts forecast that nVent Electric will post 3.27 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

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

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.