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

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

NVT has been the topic of a number of other reports. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Citigroup dropped their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. KeyCorp lifted their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. The Goldman Sachs Group lifted their price target on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Royal Bank Of Canada lifted their price target on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $73.83.

nVent Electric Price Performance

NYSE:NVT traded up $0.28 during mid-day trading on Wednesday, reaching $74.95. 1,677,199 shares of the stock were exchanged, compared to its average volume of 1,986,563. The business has a fifty day moving average price of $68.56 and a 200 day moving average price of $63.29. The firm has a market capitalization of $12.34 billion, a PE ratio of 21.41, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric has a 1-year low of $41.71 and a 1-year high of $81.55. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48.

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

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. nVent Electric's payout ratio is presently 22.86%.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president directly owned 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 bought and sold shares of NVT. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric during the 4th quarter valued at about $27,000. SVB Wealth LLC acquired a new stake in shares of nVent Electric during the 1st quarter valued at about $25,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric during the 4th quarter valued at about $38,000. Whipplewood Advisors LLC lifted its holdings in shares of nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after buying an additional 500 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of nVent Electric during the 1st quarter valued at about $36,000. 90.05% of the stock is currently 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.