nVent Electric (NYSE:NVT) Earns Buy Rating from Roth Capital

Key Points

• nVent Electric received a reaffirmed "buy" rating from Roth Capital with a target price increase from $89.00 to $100.00, indicating a potential upside of 12.63% from its previous close.
• The company reported $0.86 EPS for the quarter, exceeding the consensus estimate of $0.79, with revenues reaching $963.10 million, reflecting a year-over-year increase of 30.1%.
• Multiple analysts, including Citigroup and Barclays, have raised their target prices for nVent Electric, with a consensus rating of "Buy" and a target price of $87.00.

nVent Electric (NYSE:NVT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Roth Capital in a report issued on Monday,Benzinga reports. They currently have a $100.00 target price on the stock, up from their previous target price of $89.00. Roth Capital's price objective would indicate a potential upside of 12.63% from the stock's previous close.

Other analysts also recently issued research reports about the company. Citigroup lifted 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, July 14th. Wall Street Zen upgraded nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. KeyCorp boosted their target price on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays boosted their target price on nVent Electric from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada boosted their target price on nVent Electric from $85.00 to $102.00 and gave the stock an "outperform" rating in a research report on Monday. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $87.00.

nVent Electric Price Performance

NVT traded down $1.09 on Monday, hitting $88.79. 1,749,090 shares of the company's stock traded hands, compared to its average volume of 2,196,957. The company's 50 day simple moving average is $72.50 and its 200-day simple moving average is $64.05. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.69 and a beta of 1.35. nVent Electric has a one year low of $41.71 and a one year high of $91.52. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. The company had revenue of $963.10 million for the quarter, compared to the consensus estimate of $906.96 million. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%. The firm's quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. As a group, research analysts anticipate that nVent Electric will post 3.04 EPS for the current year.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the sale, the executive vice president directly owned 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nVent Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC purchased a new stake in shares of nVent Electric in the first quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new position in nVent Electric in the 4th quarter valued at $27,000. Whipplewood Advisors LLC grew its position in nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Trust Co. of Vermont grew its position in nVent Electric by 57.8% in the 2nd quarter. Trust Co. of Vermont now owns 434 shares of the company's stock valued at $32,000 after acquiring an additional 159 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new position in nVent Electric in the 1st quarter valued at $36,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

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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