nVent Electric plc (NYSE:NVT) Receives $86.33 Average Target Price from Analysts

Shares of nVent Electric plc (NYSE:NVT) have been given a consensus rating of “Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $86.33.

Several research firms have recently commented on NVT. Barclays boosted their price target on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada boosted their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Citigroup dropped their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th.

nVent Electric Stock Performance

NYSE:NVT opened at $60.25 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric has a 1 year low of $56.44 and a 1 year high of $86.57. The stock’s 50 day simple moving average is $67.75 and its two-hundred day simple moving average is $70.14. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities analysts anticipate that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. nVent Electric’s payout ratio is 40.82%.

Hedge Funds Weigh In On nVent Electric

Institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. Crews Bank & Trust acquired a new position in nVent Electric during the 4th quarter worth $26,000. Capital A Wealth Management LLC acquired a new position in nVent Electric during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new position in shares of nVent Electric during the 4th quarter worth about $38,000. Finally, Huntington National Bank boosted its position in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

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.