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

Shares of nVent Electric plc (NYSE:NVT) have been assigned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $86.33.

NVT has been the topic of a number of research reports. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays increased their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Citigroup reduced their price objective 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 Performance

Shares of NVT stock opened at $60.25 on Wednesday. The firm has a market cap of $9.94 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.48 and a beta of 1.26. nVent Electric has a one year low of $56.44 and a one year high of $86.57. 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 firm’s 50 day moving average price is $67.75 and its 200-day moving average price is $70.05.

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, hitting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, equities research analysts predict that nVent Electric will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVT. Capital Research Global Investors purchased a new stake in shares of nVent Electric in the fourth quarter valued at about $384,749,000. Norges Bank purchased a new stake in shares of nVent Electric in the fourth quarter valued at about $197,434,000. Millennium Management LLC boosted its holdings in shares of nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock valued at $151,017,000 after acquiring an additional 1,953,026 shares in the last quarter. Swedbank AB purchased a new stake in shares of nVent Electric in the third quarter valued at about $110,663,000. Finally, Champlain Investment Partners LLC purchased a new stake in shares of nVent Electric in the fourth quarter valued at about $86,738,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.