Shares of nVent Electric plc (NYSE:NVT – Get Rating) have earned an average recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $41.60.
Several research analysts recently commented on NVT shares. Barclays cut their price target on nVent Electric from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. The Goldman Sachs Group cut their objective price on nVent Electric from $43.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd.
Hedge Funds Weigh In On nVent Electric
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVT. State of Alaska Department of Revenue lifted its position in shares of nVent Electric by 3.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 38,292 shares of the company’s stock valued at $1,198,000 after acquiring an additional 1,260 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of nVent Electric by 558.3% during the 1st quarter. Verition Fund Management LLC now owns 207,755 shares of the company’s stock valued at $7,226,000 after acquiring an additional 176,195 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of nVent Electric during the 1st quarter valued at $306,000. Kestra Private Wealth Services LLC lifted its position in shares of nVent Electric by 13.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 17,949 shares of the company’s stock valued at $624,000 after acquiring an additional 2,059 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of nVent Electric by 81.7% during the 1st quarter. Neuberger Berman Group LLC now owns 6,395,364 shares of the company’s stock valued at $222,430,000 after acquiring an additional 2,876,232 shares during the last quarter. 88.44% of the stock is owned by institutional investors.
nVent Electric Trading Up 2.4%
Shares of NVT opened at $30.67 on Monday. The stock’s 50-day moving average is $33.13 and its two-hundred day moving average is $34.29. The stock has a market cap of $5.10 billion, a PE ratio of 18.93 and a beta of 1.43. nVent Electric has a 12 month low of $28.27 and a 12 month high of $39.53. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 1.05.
nVent Electric (NYSE:NVT – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $694.70 million for the quarter, compared to analysts’ expectations of $627.83 million. nVent Electric had a return on equity of 13.68% and a net margin of 10.56%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Equities analysts forecast that nVent Electric will post 2.19 earnings per share for the current fiscal year.
nVent Electric Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 22nd will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Thursday, July 21st. nVent Electric’s payout ratio is currently 43.21%.
nVent Electric Company Profile
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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