nVent Electric (NYSE:NVT) PT Raised to $87.00 at The Goldman Sachs Group

nVent Electric (NYSE:NVT) had its target price increased by investment analysts at The Goldman Sachs Group from $77.00 to $87.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 14.37% from the stock’s previous close.

NVT has been the topic of several other reports. Royal Bank of Canada boosted their price target on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Citigroup raised their price objective on nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price target for the company. Finally, Barclays upped their target price on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.60.

nVent Electric Stock Up 0.2 %

Shares of NYSE:NVT traded up $0.18 on Monday, hitting $76.07. 790,966 shares of the company’s stock were exchanged, compared to its average volume of 1,307,308. The company has a market capitalization of $12.62 billion, a PE ratio of 22.14, a P/E/G ratio of 1.63 and a beta of 1.35. The firm’s 50-day moving average is $72.41 and its 200 day moving average is $61.98. nVent Electric has a 1-year low of $40.22 and a 1-year high of $78.98. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. Sell-side analysts predict that nVent Electric will post 3.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the sale, the director now owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares in the company, valued at $2,313,114.99. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock valued at $25,713,777 over the last quarter. Insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its holdings in shares of nVent Electric by 9.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company’s stock worth $825,000 after acquiring an additional 1,325 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in nVent Electric by 3.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock valued at $472,000 after purchasing an additional 307 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of nVent Electric during the third quarter valued at $153,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in nVent Electric by 9.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,585 shares of the company’s stock worth $1,727,000 after acquiring an additional 2,879 shares during the period. Finally, Baystate Wealth Management LLC bought a new stake in shares of nVent Electric in the 3rd quarter valued at about $33,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.