nVent Electric (NYSE:NVT) Price Target Raised to $70.00

nVent Electric (NYSE:NVT - Get Free Report) had its price target lifted by research analysts at Barclays from $65.00 to $70.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 14.05% from the stock's previous close.

A number of other equities analysts also recently weighed in on NVT. KeyCorp boosted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Royal Bank of Canada raised their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday. Finally, The Goldman Sachs Group dropped their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $70.00.

nVent Electric Stock Up 2.9 %

NVT stock traded up $1.75 during midday trading on Monday, reaching $61.37. 1,521,085 shares of the company's stock traded hands, compared to its average volume of 1,910,312. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm's fifty day moving average price is $53.63 and its 200-day moving average price is $65.27. nVent Electric has a 52 week low of $41.71 and a 52 week high of $86.57. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. As a group, sell-side analysts forecast that nVent Electric will post 3.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On nVent Electric

Large investors have recently added to or reduced their stakes in the business. Capital Research Global Investors bought a new stake in shares of nVent Electric during the 4th quarter valued at about $384,749,000. Norges Bank purchased a new stake in nVent Electric in the fourth quarter valued at approximately $197,434,000. Millennium Management LLC lifted its position in nVent Electric by 743.7% during the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after purchasing an additional 1,953,026 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in nVent Electric in the 4th quarter worth approximately $86,738,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of nVent Electric by 145.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company's stock worth $99,961,000 after buying an additional 869,906 shares during the last quarter. Institutional investors 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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