nVent Electric plc (NYSE: NVT) received a Hold rating from Oppenheimer analyst Jim Giannakouros on May 2. The company’s shares closed on Friday at $24.90.
Giannakouros noted:
“nVent (NVT) is a global leader of electrical connection and protection solutions— now a stand-alone company after being spun out of Pentair (PNR) on 4/30/18. We appreciate the spin rationale: both PNR and NVT can now focus better on strategic objectives (notably in quite different applications/markets) with stronger growth potential via increased flexibility to pursue both organic and M&A opportunities. We believe NVT is well positioned for long-term growth, aided by its focus on innovation and a more integrated go-to-market strategy. That said, out-of-the-gate organic growth potential is in the middle of our coverage pack, and outsized near-term operating leverage is unlikely given reinvestment needs. Seeking more evidence of plan execution or model upside, we initiate at Perform.”
According to TipRanks.com, Giannakouros is a 3-star analyst with an average return of 4.6% and a 49.0% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.
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The company has a one-year high of $27 and a one-year low of $21. Currently, nVent Electric plc has an average volume of 4.5M.
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nVent Electric Plc provides electrical connection and protection solutions. It designs, manufactures, markets, installs, and services products and solutions that connect and protect some of the equipment, buildings, and critical processes.
