Brokerages Set nVent Electric PLC (NYSE:NVT) PT at $139.63

nVent Electric PLC (NYSE:NVT) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $139.6250.

Several brokerages have issued reports on NVT. Citigroup lifted their target price on shares of nVent Electric from $131.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Barclays raised their price target on shares of nVent Electric from $141.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research upgraded shares of nVent Electric to an “outperform” rating in a research report on Monday, February 9th. UBS Group reissued a “buy” rating and issued a $135.00 target price on shares of nVent Electric in a research note on Friday, March 13th. Finally, Zacks Research lowered nVent Electric from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $118.11 on Thursday. The business has a 50 day simple moving average of $115.51 and a two-hundred day simple moving average of $108.00. nVent Electric has a 12 month low of $41.71 and a 12 month high of $129.94. The stock has a market capitalization of $19.10 billion, a P/E ratio of 27.47, a PEG ratio of 1.22 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 41.9% on a year-over-year basis. As a group, analysts predict that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.7%. nVent Electric’s payout ratio is 19.53%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the sale, the director directly owned 13,405 shares in the company, valued at $1,535,140.60. This represents a 27.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry W. Burris sold 5,244 shares of nVent Electric stock in a transaction on Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the transaction, the director owned 46,371 shares in the company, valued at approximately $5,206,072.17. This represents a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,841 shares of company stock worth $2,046,166 in the last three months. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of nVent Electric by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 3,125,289 shares of the company’s stock valued at $318,752,000 after buying an additional 217,485 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of nVent Electric by 361.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,577,555 shares of the company’s stock valued at $262,835,000 after buying an additional 2,019,483 shares during the period. Norges Bank purchased a new stake in shares of nVent Electric during the 4th quarter valued at approximately $245,955,000. Bank of New York Mellon Corp lifted its holdings in nVent Electric by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,949,761 shares of the company’s stock valued at $198,817,000 after acquiring an additional 234,755 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its holdings in nVent Electric by 2.4% in the third quarter. Clark Capital Management Group Inc. now owns 1,830,406 shares of the company’s stock valued at $180,551,000 after acquiring an additional 43,502 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.