Shares of nVent Electric PLC (NYSE:NVT) have been assigned an average rating of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $29.00.
A number of equities research analysts recently weighed in on NVT shares. Zacks Investment Research cut nVent Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. ValuEngine cut nVent Electric from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, Buckingham Research set a $31.00 price objective on nVent Electric and gave the stock a “buy” rating in a research report on Friday, April 26th.
Shares of NYSE NVT traded down $0.46 during trading hours on Wednesday, hitting $24.24. The company had a trading volume of 11,968 shares, compared to its average volume of 1,114,092. The stock has a market capitalization of $4.31 billion, a PE ratio of 14.01 and a beta of 1.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.82 and a quick ratio of 1.22. nVent Electric has a 1-year low of $19.71 and a 1-year high of $29.84. The firm’s 50 day moving average price is $24.25.
nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $538.00 million during the quarter, compared to the consensus estimate of $546.43 million. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. The business’s revenue was down .2% on a year-over-year basis. Equities research analysts expect that nVent Electric will post 1.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, July 18th. nVent Electric’s payout ratio is 40.23%.
In related news, Director Michael L. Ducker purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average price of $24.07 per share, for a total transaction of $48,140.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Trian Fund Management, L.P. sold 366,901 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $26.03, for a total value of $9,550,433.03. The disclosure for this sale can be found here. Insiders have sold a total of 4,015,786 shares of company stock worth $101,315,702 in the last quarter. Company insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in shares of nVent Electric during the second quarter valued at approximately $386,000. First Trust Advisors LP increased its holdings in shares of nVent Electric by 436.4% during the first quarter. First Trust Advisors LP now owns 248,765 shares of the company’s stock valued at $6,712,000 after acquiring an additional 202,386 shares in the last quarter. Redwood Investment Management LLC increased its holdings in shares of nVent Electric by 12.9% during the first quarter. Redwood Investment Management LLC now owns 36,378 shares of the company’s stock valued at $981,000 after acquiring an additional 4,143 shares in the last quarter. Clearbridge Investments LLC increased its holdings 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 valued at $35,908,000 after acquiring an additional 6,889 shares in the last quarter. Finally, CNH Partners LLC increased its holdings in shares of nVent Electric by 1.1% during the first quarter. CNH Partners LLC now owns 772,500 shares of the company’s stock valued at $20,842,000 after acquiring an additional 8,412 shares in the last quarter. Institutional investors own 86.10% of the company’s stock.
nVent Electric Company Profile
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.
Featured Article: What is the Dividend Aristocrat Index?
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.