According to Zacks, “nVent Electric plc provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes. The company’s operating segments consists of Enclosures, Thermal Management and Electrical & Fastening Solutions. nVent Electric plc is based in London, the United Kingdom. “
Several other brokerages have also issued reports on NVT. Buckingham Research set a $31.00 target price on nVent Electric and gave the stock a buy rating in a research note on Friday, April 26th. Vertical Research lowered nVent Electric from a buy rating to a hold rating in a research note on Thursday, August 1st. Finally, ValuEngine lowered nVent Electric from a sell rating to a strong sell rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $28.67.
nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $539.50 million during the quarter, compared to analyst estimates of $550.75 million. nVent Electric had a return on equity of 11.69% and a net margin of 11.43%. nVent Electric’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. As a group, equities research analysts anticipate that nVent Electric will post 1.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Thursday, July 18th. nVent Electric’s dividend payout ratio (DPR) is currently 40.23%.
In other nVent Electric news, Director Trian Fund Management, L.P. sold 3,000,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $24.53, for a total transaction of $73,590,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael L. Ducker bought 2,000 shares of nVent Electric stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $24.07 per share, with a total value of $48,140.00. The disclosure for this purchase can be found here. 1.60% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of NVT. BlackRock Inc. boosted its position in shares of nVent Electric by 0.9% during the first quarter. BlackRock Inc. now owns 15,294,578 shares of the company’s stock worth $412,651,000 after buying an additional 133,882 shares during the period. TCW Group Inc. boosted its position in shares of nVent Electric by 3.1% during the first quarter. TCW Group Inc. now owns 2,280,691 shares of the company’s stock worth $61,533,000 after buying an additional 68,217 shares during the period. Norges Bank purchased a new position in shares of nVent Electric during the fourth quarter worth $45,331,000. Geode Capital Management LLC boosted its position in shares of nVent Electric by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,896,604 shares of the company’s stock worth $42,597,000 after buying an additional 151,472 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of nVent Electric by 0.5% during the first quarter. Clearbridge Investments LLC now owns 1,330,906 shares of the company’s stock worth $35,908,000 after buying an additional 6,889 shares during the period. Institutional investors own 86.20% of the company’s stock.
About nVent Electric
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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