nVent Electric (NYSE:NVT) Price Target Cut to $88.00

nVent Electric (NYSE:NVT) had its price target reduced by Royal Bank of Canada from $89.00 to $88.00 in a research report sent to investors on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a buy rating and a $83.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a buy rating in a research note on Monday. Barclays lifted their target price on shares of nVent Electric from $74.00 to $85.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Finally, Citigroup lifted their target price on shares of nVent Electric from $71.00 to $91.00 and gave the stock a buy rating in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $87.00.

nVent Electric Stock Down 0.0 %

NVT stock opened at $76.38 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric has a 1 year low of $40.22 and a 1 year high of $78.98. The company has a fifty day simple moving average of $72.62 and a 200 day simple moving average of $62.17. The firm has a market cap of $12.68 billion, a PE ratio of 22.28, a PEG ratio of 1.63 and a beta of 1.35.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same quarter in the previous year, the business earned $0.67 EPS. nVent Electric’s quarterly revenue was up 18.0% compared to the same quarter last year. Sell-side analysts anticipate that nVent Electric will post 3.25 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.00%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Buying and Selling

In other news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the transaction, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock worth $25,713,777 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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