nVent Electric (NYSE:NVT) Price Target Raised to $87.00 at The Goldman Sachs Group

nVent Electric (NYSE:NVT - Get Free Report) had its price target boosted by The Goldman Sachs Group from $78.00 to $87.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 16.58% from the company's current price.

Other equities analysts have also recently issued research reports about the company. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research note on Monday, March 17th. KeyCorp boosted their price target on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Royal Bank Of Canada boosted their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Citigroup lowered their price target 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. Finally, Barclays boosted their target price on nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $72.83.

nVent Electric Stock Up 0.2%

NYSE:NVT traded up $0.12 on Monday, hitting $74.63. 730,481 shares of the company's stock traded hands, compared to its average volume of 1,953,855. 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 has a 1 year low of $41.71 and a 1 year high of $81.55. The firm has a 50-day moving average price of $67.10 and a 200-day moving average price of $63.05. The company has a market cap of $12.29 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31.

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

Insider Activity at nVent Electric

In other 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 completion of the transaction, the executive vice president directly owned 32,665 shares in the company, valued at $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 Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Capital Research Global Investors acquired a new position in shares of nVent Electric in the fourth quarter valued at $384,749,000. Nuveen LLC acquired a new position in shares of nVent Electric in the first quarter valued at $229,615,000. Norges Bank bought a new stake in nVent Electric in the fourth quarter valued at $197,434,000. Millennium Management LLC grew its position in nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after acquiring an additional 1,953,026 shares during the period. Finally, American Century Companies Inc. grew its position in nVent Electric by 1,869.8% in the first quarter. American Century Companies Inc. now owns 1,462,840 shares of the company's stock valued at $76,682,000 after acquiring an additional 1,388,578 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.