nVent Electric plc (NYSE:NVT) Receives $37.67 Average Price Target from Analysts

Shares of nVent Electric plc (NYSE:NVT) have been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $37.67.

NVT has been the subject of several research analyst reports. Rosenblatt Securities upped their price objective on nVent Electric from $38.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 4th. Barclays raised their price objective on shares of nVent Electric from $44.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, August 4th. They noted that the move was a valuation call. KeyCorp increased their target price on shares of nVent Electric from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Tuesday, June 8th. Finally, Zacks Investment Research upgraded shares of nVent Electric from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, August 6th.

NVT stock traded up $0.54 during trading on Friday, hitting $33.15. The company had a trading volume of 3,963 shares, compared to its average volume of 1,066,864. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 135.67 and a beta of 1.56. The company has a current ratio of 1.68, a quick ratio of 1.17 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $32.43 and a 200 day moving average of $30.98. nVent Electric has a fifty-two week low of $16.92 and a fifty-two week high of $34.97.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. nVent Electric had a net margin of 1.83% and a return on equity of 12.56%. The business had revenue of $601.00 million for the quarter, compared to analyst estimates of $537.75 million. The business’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. As a group, equities analysts predict that nVent Electric will post 1.89 EPS for the current year.

In other nVent Electric news, CFO Sara E. Zawoyski sold 1,916 shares of the business’s stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $65,144.00. Following the sale, the chief financial officer now directly owns 32,227 shares of the company’s stock, valued at approximately $1,095,718. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Profund Advisors LLC raised its holdings in shares of nVent Electric by 3.5% during the second quarter. Profund Advisors LLC now owns 10,509 shares of the company’s stock worth $328,000 after acquiring an additional 357 shares in the last quarter. Clearline Capital LP raised its stake in shares of nVent Electric by 2.4% during the 1st quarter. Clearline Capital LP now owns 24,585 shares of the company’s stock worth $686,000 after purchasing an additional 569 shares in the last quarter. SeaBridge Investment Advisors LLC lifted its holdings in shares of nVent Electric by 0.5% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 108,629 shares of the company’s stock valued at $3,032,000 after buying an additional 570 shares during the last quarter. Utah Retirement Systems grew its stake in shares of nVent Electric by 7.5% in the 2nd quarter. Utah Retirement Systems now owns 8,623 shares of the company’s stock valued at $269,000 after buying an additional 600 shares in the last quarter. Finally, FDx Advisors Inc. increased its holdings in nVent Electric by 8.9% in the second quarter. FDx Advisors Inc. now owns 8,692 shares of the company’s stock worth $272,000 after buying an additional 711 shares during the last quarter. 85.25% of the stock is owned by institutional investors and hedge funds.

nVent Electric Company Profile

nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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