nVent Electric (NYSE:NVT) Price Target Raised to $80.00 at Barclays

nVent Electric (NYSE:NVT - Free Report) had its target price lifted by Barclays from $74.00 to $80.00 in a report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. KeyCorp lifted their price objective on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. The Goldman Sachs Group raised their target price on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Citigroup cut their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, nVent Electric presently has an average rating of "Buy" and an average price target of $73.83.

nVent Electric Trading Up 1.3%

nVent Electric stock traded up $0.95 during trading on Wednesday, reaching $75.15. 1,297,770 shares of the company were exchanged, compared to its average volume of 1,963,950. nVent Electric has a 52-week low of $41.71 and a 52-week high of $81.55. The company has a market capitalization of $12.37 billion, a P/E ratio of 21.47, a PEG ratio of 1.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The stock's 50 day simple moving average is $67.48 and its two-hundred day simple moving average is $63.13.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. During the same quarter last year, the business posted $0.78 earnings per share. The firm's revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.06%. nVent Electric's payout ratio is presently 22.86%.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president directly owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors have recently modified their holdings of NVT. Farther Finance Advisors LLC boosted its holdings in nVent Electric by 381.0% in the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock valued at $106,000 after purchasing an additional 1,581 shares during the period. LPL Financial LLC boosted its holdings in nVent Electric by 12.6% in the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock valued at $9,545,000 after purchasing an additional 15,685 shares during the period. GAMMA Investing LLC boosted its holdings in nVent Electric by 74.3% in the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company's stock valued at $182,000 after purchasing an additional 1,482 shares during the period. Janney Montgomery Scott LLC boosted its holdings in nVent Electric by 6.2% in the first quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company's stock valued at $1,429,000 after purchasing an additional 1,591 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in nVent Electric by 27.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 19,307 shares of the company's stock valued at $1,012,000 after purchasing an additional 4,149 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

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.