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nVent Electric plc (NYSE:NVT - Get Rating) has been assigned an average rating of "Buy" from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued a report on the stock in the last year is $41.80.
NVT has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of nVent Electric from $43.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday. Barclays dropped their price objective on shares of nVent Electric from $48.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, May 24th.
In other news, Director Ronald Merriman sold 3,947 shares of the company's stock in a transaction on Monday, March 28th. The shares were sold at an average price of $35.17, for a total value of $138,815.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in shares of nVent Electric by 4.7% in the third quarter. HighTower Advisors LLC now owns 10,883 shares of the company's stock valued at $351,000 after purchasing an additional 484 shares during the period. Dark Forest Capital Management LP raised its holdings in nVent Electric by 179.6% during the third quarter. Dark Forest Capital Management LP now owns 6,044 shares of the company's stock worth $195,000 after purchasing an additional 3,882 shares in the last quarter. Morgan Stanley increased its holdings in shares of nVent Electric by 10.8% in the 3rd quarter. Morgan Stanley now owns 389,116 shares of the company's stock valued at $12,579,000 after acquiring an additional 37,808 shares during the period. Royal Bank of Canada increased its holdings in shares of nVent Electric by 17.4% in the 3rd quarter. Royal Bank of Canada now owns 267,579 shares of the company's stock valued at $8,651,000 after acquiring an additional 39,633 shares during the period. Finally, Tudor Investment Corp Et Al acquired a new position in shares of nVent Electric in the 3rd quarter valued at $3,491,000. Institutional investors and hedge funds own 88.44% of the company's stock.
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NVT traded down $0.57 during midday trading on Thursday, reaching $30.76. The company's stock had a trading volume of 17,427 shares, compared to its average volume of 680,894. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 19.01 and a beta of 1.43. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. nVent Electric has a 1 year low of $28.27 and a 1 year high of $39.53. The stock's 50-day moving average is $34.36 and its 200-day moving average is $35.04.
nVent Electric (NYSE:NVT - Get Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. nVent Electric had a net margin of 10.56% and a return on equity of 13.68%. The firm had revenue of $694.70 million for the quarter, compared to analysts' expectations of $627.83 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The business's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts forecast that nVent Electric will post 2.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 22nd will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, July 21st. nVent Electric's dividend payout ratio is presently 43.21%.
nVent Electric Company Profile (Get Rating)
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.
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