nVent Electric plc (NYSE:NVT) Given Average 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 covering the stock, Marketbeat.com 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $69.00.

Several equities research analysts have recently issued reports on NVT shares. The Goldman Sachs Group lowered their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Royal Bank of Canada boosted their price objective 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. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Barclays decreased their target price on nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, KeyCorp cut their price target on nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th.

nVent Electric Stock Down 1.8 %

nVent Electric stock opened at $49.59 on Thursday. 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 fifty-two week low of $41.71 and a fifty-two week high of $86.57. The firm has a fifty day moving average price of $56.70 and a two-hundred day moving average price of $66.87. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, analysts forecast 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. Shareholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is 40.82%.

Institutional Investors Weigh In On nVent Electric

Several large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its position in shares of nVent Electric by 4.1% during 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 during the period. MassMutual Private Wealth & Trust FSB raised its stake in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares in the last quarter. Calamos Advisors LLC lifted its holdings in shares of nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after acquiring an additional 176 shares during the period. 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. Finally, Hancock Whitney Corp grew its holdings in shares of nVent Electric by 1.4% in the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after purchasing an additional 206 shares during the last quarter. 90.05% of the stock is currently owned by 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.