nVent Electric plc (NYSE:NVT) Receives $83.33 Consensus PT from Analysts

nVent Electric plc (NYSE:NVT) has been given a consensus recommendation of “Buy” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $82.00.

A number of equities analysts have recently commented on the stock. Barclays reduced their price objective on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th.

nVent Electric Stock Down 2.1 %

Shares of nVent Electric stock opened at $54.61 on Friday. The firm has a market cap of $9.01 billion, a PE ratio of 27.86, a P/E/G ratio of 1.48 and a beta of 1.31. The business’s 50 day simple moving average is $62.58 and its 200 day simple moving average is $68.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric has a 52-week low of $51.99 and a 52-week high of $86.57.

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

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is 40.82%.

Hedge Funds Weigh In On nVent Electric

Several institutional investors and hedge funds have recently modified their holdings of NVT. Capital Research Global Investors acquired a new position in nVent Electric in the 4th quarter valued at about $384,749,000. Norges Bank bought a new stake in shares of nVent Electric during the fourth quarter worth approximately $197,434,000. Millennium Management LLC boosted its holdings in shares of nVent Electric by 743.7% during the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock worth $151,017,000 after acquiring an additional 1,953,026 shares during the period. Swedbank AB acquired a new position in shares of nVent Electric in the third quarter valued at approximately $110,663,000. Finally, Champlain Investment Partners LLC bought a new position in shares of nVent Electric during the fourth quarter worth approximately $86,738,000. 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.