nVent Electric (NYSE:NVT) PT Lowered to $86.00 at Barclays

nVent Electric (NYSE:NVT) had its target price cut by Barclays from $87.00 to $86.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

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

nVent Electric Price Performance

NVT opened at $69.68 on Wednesday. The firm has a market capitalization of $11.57 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The business’s 50-day moving average is $66.32 and its two-hundred day moving average is $73.32. nVent Electric has a 1 year low of $45.60 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49.

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

nVent Electric Announces Dividend

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

Insiders Place Their Bets

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, 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. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in NVT. Cambridge Investment Research Advisors Inc. grew its stake in shares of nVent Electric by 200.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 26,827 shares of the company’s stock worth $1,585,000 after purchasing an additional 17,910 shares during the period. Stifel Financial Corp grew its stake in shares of nVent Electric by 3.8% during the 4th quarter. Stifel Financial Corp now owns 108,163 shares of the company’s stock worth $6,391,000 after purchasing an additional 4,008 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of nVent Electric by 37.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 287,048 shares of the company’s stock worth $16,962,000 after purchasing an additional 78,482 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of nVent Electric by 50.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock worth $96,519,000 after purchasing an additional 547,624 shares during the period. Finally, 1832 Asset Management L.P. acquired a new stake in shares of nVent Electric during the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.