Rosenblatt Securities began coverage on shares of nVent Electric (NYSE:NVT) in a report released on Thursday, The Fly reports. The firm issued a buy rating and a $28.00 target price on the stock.
Other equities research analysts have also issued research reports about the company. Gabelli lowered nVent Electric from a buy rating to a hold rating and set a $27.00 price objective for the company. in a research note on Friday, November 1st. G.Research lowered nVent Electric from a buy rating to a hold rating in a research note on Friday, November 1st. Vertical Research lowered nVent Electric from a buy rating to a hold rating in a research note on Thursday, August 1st. KeyCorp lowered their price objective on nVent Electric from $32.00 to $29.00 and set an overweight rating for the company in a research note on Monday, October 7th. Finally, Barclays restated a hold rating and set a $25.00 price objective on shares of nVent Electric in a research note on Sunday, August 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. nVent Electric currently has an average rating of Hold and a consensus price target of $26.25.
NYSE NVT traded up $0.20 during mid-day trading on Thursday, reaching $23.93. 1,014,271 shares of the company’s stock traded hands, compared to its average volume of 1,231,647. nVent Electric has a 1-year low of $19.04 and a 1-year high of $28.49. The company has a fifty day simple moving average of $21.51 and a 200-day simple moving average of $23.19. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 13.75 and a beta of 1.68.
nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The firm had revenue of $559.80 million during the quarter, compared to analyst estimates of $554.44 million. During the same quarter last year, the firm earned $0.46 EPS. nVent Electric’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts forecast that nVent Electric will post 1.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, October 17th. nVent Electric’s dividend payout ratio is presently 40.23%.
In other nVent Electric news, Director Randall J. Hogan sold 204,605 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $23.97, for a total transaction of $4,904,381.85. Company insiders own 1.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Personal Wealth Partners bought a new position in nVent Electric during the 2nd quarter worth approximately $27,000. First Interstate Bank bought a new position in nVent Electric during the 2nd quarter worth approximately $41,000. Stonebridge Capital Advisors LLC bought a new position in nVent Electric during the 2nd quarter worth approximately $84,000. Point72 Asset Management L.P. bought a new position in nVent Electric during the 2nd quarter worth approximately $87,000. Finally, Captrust Financial Advisors lifted its holdings in nVent Electric by 19.7% during the 2nd quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock worth $128,000 after buying an additional 853 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.
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.
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