nVent Electric (NYSE:NVT) Receives New Coverage from Analysts at William Blair

Posted by Defense World Staff on Jul 31st, 2023

William Blair started coverage on shares of nVent Electric (NYSE:NVT – Free Report) in a research note released on Thursday morning, MarketBeat Ratings reports. The firm issued an outperform rating on the stock.

A number of other research firms also recently issued reports on NVT. Royal Bank of Canada boosted their target price on shares of nVent Electric from $50.00 to $53.00 in a report on Monday, May 22nd. The Goldman Sachs Group boosted their target price on shares of nVent Electric from $55.00 to $58.00 in a research report on Tuesday, May 30th. Finally, Barclays boosted their target price on shares of nVent Electric from $53.00 to $55.00 in a research report on Monday, May 1st.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $53.21 on Thursday. The company has a market cap of $8.82 billion, a PE ratio of 19.56 and a beta of 1.34. nVent Electric has a 12 month low of $30.48 and a 12 month high of $55.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.09 and a quick ratio of 1.32. The company has a 50-day simple moving average of $49.11 and a 200-day simple moving average of $44.84.

nVent Electric (NYSE:NVT – Get Free Report) last released its earnings results on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. nVent Electric had a net margin of 15.14% and a return on equity of 16.85%. The firm had revenue of $803.00 million during the quarter, compared to the consensus estimate of $809.05 million. During the same period in the previous year, the firm earned $0.57 earnings per share. nVent Electric’s revenue was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that nVent Electric will post 2.85 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be paid a dividend of $0.175 per share. The ex-dividend date is Thursday, July 20th. This represents a $0.70 annualized dividend and a yield of 1.32%. nVent Electric’s payout ratio is 25.74%.

Insider Transactions at nVent Electric

In related news, CFO Sara E. Zawoyski sold 2,649 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $50.00, for a total value of $132,450.00. Following the completion of the transaction, the chief financial officer now owns 64,410 shares in the company, valued at approximately $3,220,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other nVent Electric news, CFO Sara E. Zawoyski sold 2,649 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $50.00, for a total transaction of $132,450.00. Following the completion of the sale, the chief financial officer now directly owns 64,410 shares of the company’s stock, valued at $3,220,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Greg Scheu acquired 4,700 shares of nVent Electric stock in a transaction on Monday, May 22nd. The shares were purchased at an average cost of $43.23 per share, with a total value of $203,181.00. Following the completion of the purchase, the director now directly owns 16,828 shares of the company’s stock, valued at approximately $727,474.44. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 27,293 shares of company stock worth $1,247,474. Insiders own 2.40% of the company’s stock.

Institutional Trading of nVent Electric

A number of hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of nVent Electric in the second quarter worth approximately $226,000. Mach 1 Financial Group LLC acquired a new position in nVent Electric in the second quarter worth approximately $764,000. Linden Thomas Advisory Services LLC increased its holdings in nVent Electric by 3.3% in the second quarter. Linden Thomas Advisory Services LLC now owns 21,089 shares of the company’s stock worth $1,090,000 after buying an additional 664 shares during the last quarter. Mendota Financial Group LLC acquired a new position in nVent Electric in the second quarter worth approximately $158,000. Finally, EA Series Trust acquired a new position in nVent Electric in the second quarter worth approximately $3,253,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

About nVent Electric

(Get Free Report)

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.