nVent Electric PLC (NYSE:NVT) Receives Average Recommendation of “Hold” from Analysts

Shares of nVent Electric PLC (NYSE:NVT) have earned an average rating of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $29.00.

Several research analysts have weighed in on NVT shares. Zacks Investment Research raised nVent Electric from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Thursday, May 16th. Buckingham Research set a $31.00 price objective on nVent Electric and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, ValuEngine cut nVent Electric from a “hold” rating to a “sell” rating in a research report on Monday, April 1st.

Shares of NYSE:NVT traded down $0.46 during mid-day trading on Wednesday, hitting $24.24. 11,968 shares of the company traded hands, compared to its average volume of 1,114,092. The stock has a market cap of $4.31 billion, a PE ratio of 14.01 and a beta of 1.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.22 and a current ratio of 1.82. nVent Electric has a 12-month low of $19.71 and a 12-month high of $29.84. The firm’s 50-day moving average price is $24.25.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, April 25th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $546.43 million. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. The business’s revenue was down .2% on a year-over-year basis. As a group, research analysts forecast that nVent Electric will post 1.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $0.70 annualized dividend and a dividend yield of 2.89%. nVent Electric’s payout ratio is presently 40.23%.

In other news, Director Michael L. Ducker bought 2,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $24.07 per share, for a total transaction of $48,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Trian Fund Management, L.P. sold 648,885 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $28.01, for a total value of $18,175,268.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,015,786 shares of company stock worth $101,315,702. Corporate insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NVT. Geode Capital Management LLC increased its stake in nVent Electric by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 1,896,604 shares of the company’s stock worth $42,597,000 after acquiring an additional 151,472 shares during the last quarter. Raymond James & Associates increased its stake in nVent Electric by 31.7% in the 4th quarter. Raymond James & Associates now owns 97,266 shares of the company’s stock worth $2,185,000 after acquiring an additional 23,392 shares during the last quarter. Private Advisor Group LLC bought a new position in nVent Electric in the 4th quarter worth about $242,000. HRT Financial LLC bought a new position in nVent Electric in the 4th quarter worth about $213,000. Finally, New York State Common Retirement Fund increased its stake in nVent Electric by 1.4% in the 4th quarter. New York State Common Retirement Fund now owns 609,224 shares of the company’s stock worth $13,683,000 after acquiring an additional 8,251 shares during the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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