nVent Electric (NYSE:NVT) Given New $88.00 Price Target at Barclays

nVent Electric (NYSE:NVT) had its target price raised by Barclays from $76.00 to $88.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also weighed in on NVT. KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada decreased their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $85.67.

nVent Electric Price Performance

NVT opened at $77.69 on Thursday. The business has a fifty day moving average of $74.22 and a 200 day moving average of $73.11. nVent Electric has a 52-week low of $53.96 and a 52-week high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The stock has a market cap of $12.80 billion, a P/E ratio of 22.78, a PEG ratio of 4.02 and a beta of 1.25.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the firm earned $0.84 EPS. nVent Electric’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.29%.

Insider Activity at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC raised its holdings in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. UMB Bank n.a. boosted its position in shares of nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric during the third quarter worth $29,000. ORG Partners LLC purchased a new position in nVent Electric in the second quarter valued at $31,000. Finally, First Foundation Advisors purchased a new position in nVent Electric in the second quarter valued at $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

About nVent Electric

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.