In yesterday’s Wall Street session, nVent Electric plc (NYSE:NVT) shares traded at $39.86, up 0.30% from the previous session.
8 analysts cover nVent Electric plc (NYSE:NVT), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $37.00, we find $43.50. Given the previous closing price of $39.74, this indicates a potential upside of 9.46 percent. NVT stock price is now 2.86% away from the 50-day moving average and 13.89% away from the 200-day moving average. The market capitalization of the company currently stands at $6.63B.
The stock has received a hold rating from 3 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $43.50 as their price target over the next twelve months.
On October 07, 2022, Loop Capital recently initiated its ‘Hold’ rating on the stock quoting a target price of $34, while ‘Vertical Research’ rates the stock as ‘Buy’.
In other news, HOGAN RANDALL J, Director sold 38,664 shares of the company’s stock on Nov 22. The stock was sold for $1,518,362 at an average price of $39.27. Upon completion of the transaction, the Director now directly owns 5,085 shares in the company, valued at $0.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 21, Director HOGAN RANDALL J sold 97,388 shares of the business’s stock. A total of $3,810,929 was realized by selling the stock at an average price of $39.13. This leaves the insider owning 5,085 shares of the company worth $0.2 million. Insiders disposed of 252,033 shares of company stock worth roughly $10.05 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NVT stock. A new stake in nVent Electric plc shares was purchased by EXODUSPOINT CAPITAL MANAGEMENT, LP during the first quarter worth $7,222,000. POINT72 ASSET MANAGEMENT, L.P. invested $6,394,000 in shares of NVT during the first quarter. In the first quarter, BANK OF NOVA SCOTIA acquired a new stake in nVent Electric plc valued at approximately $5,529,000. LGT GROUP FOUNDATION acquired a new stake in NVT for approximately $3,759,000. APG ASSET MANAGEMENT N.V. purchased a new stake in NVT valued at around $1,606,000 in the second quarter. In total, there are 535 active investors with 92.60% ownership of the company’s stock.
On Tuesday morning nVent Electric plc (NYSE: NVT) stock kicked off with the opening price of $39.86. During the past 12 months, nVent Electric plc has had a low of $29.19 and a high of $40.52. As of last week, the company has a debt-to-equity ratio of 0.41, a current ratio of 1.90, and a quick ratio of 1.30. The fifty day moving average price for NVT is $38.75 and a two-hundred day moving average price translates $35.00 for the stock.
The latest earnings results from nVent Electric plc (NYSE: NVT) was released for Jun, 2022. According to the Electrical Equipment & Parts Company, earnings per share came in at $0.57, beating analysts’ expectations of $0.54 by 0.03. This compares to $0.44 EPS in the same period last year. The net profit margin was 10.90% and return on equity was 12.00% for NVT. The company reported revenue of $745.2 million for the quarter, compared to $642.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.93 percent. For the current quarter, analysts expect NVT to generate $706.48M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/03/2023. Investors who held shares on 01/20/2023 were paid a $0.175 dividend. On an annualized basis, this represents a $0.70 dividend and a 1.76% percent yield. There was an ex-dividend date of 01/19/2023 for this dividend. In terms of dividend payout ratio, NVT is presently at 37.90%.
nVent Electric plc(NVT) Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals. Its products also include metallic and non-metallic enclosures, cabinets, sub racks, and backplanes. The Electrical & Fastening Solutions segment offers fastening solutions to connect and protect electrical and mechanical systems, and civil structures. It also provides engineered electrical and fastening products. The Thermal Management segment offers electric thermal solutions that connect and protect buildings, infrastructure, industrial processes, and people. This segment provides thermal management systems comprising heat tracing, floor heating, fire-rated and specialty wiring, sensing, and snow melting and de-icing solutions. The company sells its products under the CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, and TRACER brands. nVent Electric plc markets its products through electrical distributors, data center contractors, original equipment manufacturers, and maintenance contractors. It serves the energy, industrial, infrastructure, and commercial and residential sectors. The company was founded in 1903 and is based in London, the United Kingdom.