Rosenblatt Securities initiated coverage on shares of nVent Electric (NYSE:NVT) in a report issued on Thursday, The Fly reports. The firm issued a buy rating and a $28.00 price target on the stock.
A number of other brokerages have also recently commented on NVT. Barclays restated a hold rating and set a $25.00 price target on shares of nVent Electric in a research note on Sunday, August 4th. Gabelli cut shares of nVent Electric from a buy rating to a hold rating and set a $27.00 price target on the stock. in a research note on Friday, November 1st. KeyCorp dropped their price target on shares of nVent Electric from $32.00 to $29.00 and set an overweight rating on the stock in a research note on Monday, October 7th. G.Research cut shares of nVent Electric from a buy rating to a hold rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada cut shares of nVent Electric from an outperform rating to a sector perform rating and dropped their price target for the company from $30.00 to $24.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $26.25.
Shares of NVT stock traded up $0.20 during 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. The company has a market capitalization of $4.05 billion, a P/E ratio of 13.75 and a beta of 1.68. 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 firm’s 50-day moving average is $21.51 and its 200 day moving average is $23.19. nVent Electric has a 1 year low of $19.04 and a 1 year high of $28.49.
nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The company had revenue of $559.80 million for the quarter, compared to analysts’ expectations of $554.44 million. nVent Electric had a net margin of 11.07% and a return on equity of 11.85%. nVent Electric’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS. As a group, sell-side analysts predict 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 paid a $0.175 dividend. This represents a $0.70 annualized dividend 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 shares were sold at an average price of $23.97, for a total value of $4,904,381.85. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of NVT. Personal Wealth Partners purchased a new stake in nVent Electric in the 2nd quarter worth approximately $27,000. First Interstate Bank purchased a new stake in nVent Electric in the 2nd quarter worth approximately $41,000. Stonebridge Capital Advisors LLC purchased a new stake in nVent Electric in the 2nd quarter worth approximately $84,000. Point72 Asset Management L.P. purchased a new stake in nVent Electric in the 2nd quarter worth approximately $87,000. Finally, Captrust Financial Advisors lifted its stake in nVent Electric by 19.7% in the 2nd quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock worth $128,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 85.72% 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.
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