Barclays Increases nVent Electric (NYSE:NVT) Price Target to $150.00

nVent Electric (NYSE:NVT) had its target price boosted by equities research analysts at Barclays from $141.00 to $150.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 23.56% from the company’s previous close.

NVT has been the topic of several other research reports. Zacks Research cut nVent Electric from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Royal Bank Of Canada upped their price objective on nVent Electric from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Glj Research began coverage on nVent Electric in a research report on Thursday, March 5th. They issued a “buy” rating and a $151.00 price objective for the company. Wolfe Research raised nVent Electric to an “outperform” rating in a report on Monday, February 9th. Finally, Wall Street Zen lowered shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.63.

nVent Electric Stock Performance

NYSE:NVT traded up $3.12 during midday trading on Wednesday, reaching $121.40. The stock had a trading volume of 1,140,115 shares, compared to its average volume of 2,342,487. The firm has a fifty day simple moving average of $115.04 and a two-hundred day simple moving average of $107.60. nVent Electric has a 12-month low of $41.71 and a 12-month high of $129.94. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. The stock has a market cap of $19.63 billion, a P/E ratio of 28.23, a P/E/G ratio of 1.17 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Saturday, February 7th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. nVent Electric’s quarterly revenue was up 41.9% on a year-over-year basis. On average, equities analysts expect that nVent Electric will post 3.04 EPS for the current year.

Insider Activity

In other news, CEO Beth Wozniak sold 7,597 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the transaction, the chief executive officer owned 52,990 shares in the company, valued at $6,171,745.30. This trade represents a 12.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan M. Cameron sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total transaction of $572,600.00. Following the completion of the sale, the director owned 13,405 shares in the company, valued at $1,535,140.60. This represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,841 shares of company stock worth $2,046,166 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of nVent Electric

Several large investors have recently modified their holdings of the business. Global Trust Asset Management LLC purchased a new stake in nVent Electric in the 3rd quarter valued at approximately $30,000. Manchester Capital Management LLC increased its position in nVent Electric by 128.1% during the fourth quarter. Manchester Capital Management LLC now owns 308 shares of the company’s stock worth $31,000 after buying an additional 173 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of nVent Electric in the third quarter worth $31,000. Cullen Frost Bankers Inc. acquired a new position in shares of nVent Electric in the fourth quarter worth $32,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of nVent Electric in the fourth quarter valued at $36,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.