Brokerages Set nVent Electric PLC (NVT) PT at $28.60

Shares of nVent Electric PLC (NYSE:NVT) have earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $28.60.

Several brokerages have recently weighed in on NVT. Zacks Investment Research cut nVent Electric from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Vertical Research began coverage on nVent Electric in a report on Wednesday, November 28th. They issued a “hold” rating and a $28.00 price objective for the company. Finally, Goldman Sachs Group upgraded nVent Electric from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $31.00 to $30.00 in a report on Friday, October 26th.

In other news, Director Randall J. Hogan sold 21,082 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $25.35, for a total value of $534,428.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of large investors have recently modified their holdings of the stock. First Hawaiian Bank lifted its stake in nVent Electric by 64.0% in the 4th quarter. First Hawaiian Bank now owns 1,604 shares of the company’s stock valued at $36,000 after purchasing an additional 626 shares during the last quarter. Retirement Systems of Alabama lifted its stake in nVent Electric by 11.4% in the 4th quarter. Retirement Systems of Alabama now owns 464,704 shares of the company’s stock valued at $10,437,000 after purchasing an additional 47,439 shares during the last quarter. Vanguard Group Inc lifted its stake in nVent Electric by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 14,253,847 shares of the company’s stock valued at $387,135,000 after purchasing an additional 174,628 shares during the last quarter. Marshall Wace North America L.P. lifted its stake in nVent Electric by 64.5% in the 3rd quarter. Marshall Wace North America L.P. now owns 416,127 shares of the company’s stock valued at $11,302,000 after purchasing an additional 163,222 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in nVent Electric by 76.9% in the 3rd quarter. Clearbridge Investments LLC now owns 1,329,489 shares of the company’s stock valued at $36,109,000 after purchasing an additional 577,836 shares during the last quarter. Institutional investors and hedge funds own 85.17% of the company’s stock.

Shares of NYSE NVT opened at $23.25 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.41 and a debt-to-equity ratio of 0.34. nVent Electric has a fifty-two week low of $19.71 and a fifty-two week high of $29.84.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.07). The firm had revenue of $563.90 million during the quarter, compared to the consensus estimate of $558.40 million. As a group, research analysts predict that nVent Electric will post 1.75 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 25th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, January 24th.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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