nVent Electric plc (NYSE:NVT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of nVent Electric plc (NYSE:NVT) have earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $80.50.

A number of equities analysts recently issued reports on NVT shares. Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. CL King upgraded shares of 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. Barclays cut 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 report on Wednesday. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, KeyCorp cut their price target on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a report on Friday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVT. Quadrant Capital Group LLC raised its holdings in shares of nVent Electric by 4.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after buying an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after acquiring an additional 162 shares during the period. Calamos Advisors LLC raised its stake in nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after acquiring an additional 176 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. Finally, Utah Retirement Systems boosted its stake in shares of nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 3.1 %

Shares of NYSE:NVT opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock’s 50-day moving average is $62.19 and its 200-day moving average is $68.80. The company has a market cap of $8.73 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric has a 52-week low of $51.99 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results 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%. Equities research analysts predict that nVent Electric will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.