nVent Electric (NYSE:NVT) Price Target Cut to $86.00

nVent Electric (NYSE:NVT) had its target price decreased by Barclays from $87.00 to $86.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also recently commented on NVT. KeyCorp upgraded shares of nVent Electric from a sector weight rating to an overweight rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Royal Bank of Canada reduced their price objective on shares of nVent Electric from $88.00 to $82.00 and set an outperform rating for the company in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average target price of $85.00.

nVent Electric Stock Up 2.9 %

Shares of NYSE NVT opened at $69.68 on Wednesday. nVent Electric has a 52-week low of $45.60 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The stock has a market cap of $11.57 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.35 and a beta of 1.27. The firm has a 50 day moving average price of $66.32 and a 200 day moving average price of $73.33.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. During the same period in the prior year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts expect that nVent Electric will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity

In other news, Director Herbert K. Parker bought 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVT. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric during the 1st quarter worth about $26,000. Livelsberger Financial Advisory acquired a new position in nVent Electric in the 4th quarter valued at about $28,000. ORG Partners LLC bought a new position in nVent Electric in the 2nd quarter valued at about $31,000. Rise Advisors LLC acquired a new stake in nVent Electric during the first quarter worth approximately $32,000. Finally, First Foundation Advisors bought a new stake in shares of nVent Electric during the second quarter worth approximately $34,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.