The price of nVent Electric plc (NYSE:NVT) shares last traded on Wall Street fell -0.54% to $51.39.
Based on available information, 8 analysts follow nVent Electric plc (NYSE:NVT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $58.00 and a low of $51.86, we find $54.50. Given the previous closing price of $51.67, this indicates a potential upside of 5.48 percent. NVT stock price is now 14.65% away from the 50-day moving average and 26.70% away from the 200-day moving average. The market capitalization of the company currently stands at $8.49B.
Among analysts, 3 rate the stock a hold while 4 rate it a buy. Brokers who have rated the stock have averaged $54.64 as their price target over the next twelve months.
In other news, Zawoyski Sara E, EVP & Chief Financial Officer sold 2,649 shares of the company’s stock on Jun 26. The stock was sold for $132,450 at an average price of $50.00. Upon completion of the transaction, the EVP & Chief Financial Officer now directly owns 64,410 shares in the company, valued at $3.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 02, Chief Executive Officer Wozniak Beth sold 10,028 shares of the business’s stock. A total of $461,288 was realized by selling the stock at an average price of $46.00. This leaves the insider owning 82,478 shares of the company worth $4.24 million. Insiders disposed of 351,649 shares of company stock worth roughly $18.07 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 LORD, ABBETT & CO. LLC during the first quarter worth $56,885,000. REMPART ASSET MANAGEMENT INC. invested $14,734,000 in shares of NVT during the first quarter. In the first quarter, AROSA CAPITAL MANAGEMENT LP acquired a new stake in nVent Electric plc valued at approximately $7,104,000. ACADIAN ASSET MANAGEMENT LLC acquired a new stake in NVT for approximately $5,713,000. ALGERT GLOBAL LLC purchased a new stake in NVT valued at around $5,131,000 in the second quarter. In total, there are 612 active investors with 92.60% ownership of the company’s stock.
A candlestick chart of nVent Electric plc (NYSE: NVT) showed a price of $51.50 on Monday morning. During the past 12 months, nVent Electric plc has had a low of $29.19 and a high of $51.94. As of last week, the company has a debt-to-equity ratio of 0.39, a current ratio of 2.10, and a quick ratio of 1.50. According to the stock market information, the enterprise value for the company is $9.30B, which is based on a 20.31 price-to-earnings ratio, a 2.67 price-to-earnings-growth ratio, and a beta of 1.33. The fifty day moving average price for NVT is $44.82 and a two-hundred day moving average price translates $40.56 for the stock.
The latest earnings results from nVent Electric plc (NYSE: NVT) was released for Mar, 2023. According to the Electrical Equipment & Parts Company, earnings per share came in at $0.67, inline with analysts’ expectations of $0.67. This compares to $0.40 EPS in the same period last year. The net profit margin was 14.40% and return on equity was 15.80% for NVT. The company reported revenue of $740.6 million for the quarter, compared to $694.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.61 percent. For the current quarter, analysts expect NVT to generate $785.3M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/04/2023. Investors who held shares on 07/21/2023 were paid a $0.175 dividend. On an annualized basis, this represents a $0.70 dividend and a 1.36% percent yield. There was an ex-dividend date of 07/20/2023 for this dividend. In terms of dividend payout ratio, NVT is presently at 27.30%.
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; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and 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; and engineered electrical and fastening products. The Thermal Management segment offers electric thermal solutions that connect and protect buildings, infrastructure, industrial processes, and people; and provides thermal management systems comprising heat tracing, floor heating, fire-rated and specialty wiring, sensing, and snow melting and de-icing solutions. It sells its products under the CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, and TRACER brands. The company 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.
