KeyCorp Issues Positive Forecast for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT - Get Free Report) had its price objective boosted by equities researchers at KeyCorp from $78.00 to $84.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price objective indicates a potential upside of 12.07% from the stock's current price.

A number of other analysts also recently weighed in on NVT. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a report on Monday, March 17th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada raised their target price on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Citigroup raised their target price on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research note on Monday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, nVent Electric has an average rating of "Buy" and an average target price of $80.33.

nVent Electric Stock Up 0.1%

Shares of NVT stock opened at $74.96 on Tuesday. The firm has a market cap of $12.34 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. nVent Electric has a 12 month low of $41.71 and a 12 month high of $81.55. The stock has a 50 day moving average of $68.84 and a 200-day moving average of $63.24. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48.

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 during the quarter, compared to analyst estimates of $790.74 million. During the same period last year, the company earned $0.78 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that nVent Electric will post 3.04 EPS for the current year.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Capital Research Global Investors acquired a new position in shares of nVent Electric in the 4th quarter valued at about $384,749,000. Nuveen LLC acquired a new position in shares of nVent Electric during the 1st quarter valued at $229,615,000. Norges Bank acquired a new position in shares of nVent Electric during the 4th quarter valued at $197,434,000. Clean Energy Transition LLP lifted its holdings in shares of nVent Electric by 6.8% during the 1st quarter. Clean Energy Transition LLP now owns 2,260,068 shares of the company's stock valued at $118,473,000 after acquiring an additional 144,403 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of nVent Electric by 743.7% during the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after purchasing an additional 1,953,026 shares in the last quarter. Institutional investors and hedge funds 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.

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