nVent Electric PLC (NVT) Receives Consensus Recommendation of “Buy” from Brokerages
nVent Electric PLC (NYSE:NVT) has been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.20.
A number of equities research analysts recently commented on the stock. Buckingham Research set a $31.00 price objective on shares of nVent Electric and gave the company a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of nVent Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, KeyCorp restated a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of nVent Electric in a research report on Wednesday, February 27th.
In other news, Director Trian Fund Management, L.P. sold 366,901 shares of nVent Electric stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $26.03, for a total transaction of $9,550,433.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.
Shares of NYSE:NVT opened at $25.10 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.82 and a quick ratio of 1.22. The stock has a market capitalization of $4.59 billion and a P/E ratio of 14.43. nVent Electric has a 52 week low of $19.71 and a 52 week high of $29.84.
nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $538.00 million during the quarter, compared to the consensus estimate of $546.43 million. nVent Electric had a net margin of 10.62% and a return on equity of 11.66%. The business’s revenue was down .2% on a year-over-year basis. On average, sell-side analysts anticipate that nVent Electric will post 1.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Thursday, April 18th were given a dividend of $0.175 per share. The ex-dividend date was Wednesday, April 17th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.79%. nVent Electric’s payout ratio is 40.23%.
About nVent Electric
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.
Further Reading: Dow Jones Industrial Average (DJIA)
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.