In a report released today, Jeffrey Hammond from KeyBanc maintained a Hold rating on nVent Electric (NVT – Research Report). The company’s shares closed last Friday at $75.89.
Hammond covers the Industrials sector, focusing on stocks such as Gates Industrial, Generac Holdings, and ITT. According to TipRanks, Hammond has an average return of 10.8% and a 59.01% success rate on recommended stocks.
nVent Electric has an analyst consensus of Strong Buy, with a price target consensus of $86.50.
Based on nVent Electric’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $874.6 million and a net profit of $105.1 million. In comparison, last year the company earned a revenue of $740.6 million and had a net profit of $93.8 million
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVT in relation to earlier this year. Most recently, in March 2024, Michael B Faulconer, the President – Thermal Management of NVT sold 10,961.00 shares for a total of $738,004.13.
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nVent Electric (NVT) Company Description:
nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment. The Thermal Management segment includes electric thermal solutions that connect and protect critical buildings, infrastructure, industrial processes, and people. The Electrical & Fastening Solution segment consists of fastening solutions that connect and protect electrical and mechanical systems and civil structures. The company was founded on May 30, 2017 and is headquartered in London, the United Kingdom.
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