nVent Electric (NYSE:NVT) Price Target Raised to $74.00

nVent Electric (NYSE:NVT - Get Free Report) had its target price hoisted by research analysts at Barclays from $70.00 to $74.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target indicates a potential upside of 6.06% from the stock's current price.

Other research analysts have also issued reports about the stock. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Citigroup reduced their target price on shares of 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, KeyCorp boosted their target price on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $70.67.

nVent Electric Stock Performance

Shares of NYSE NVT traded up $1.17 during midday trading on Monday, hitting $69.77. The company's stock had a trading volume of 2,370,527 shares, compared to its average volume of 1,943,229. nVent Electric has a 1-year low of $41.71 and a 1-year high of $81.89. The firm's fifty day moving average price is $59.30 and its 200-day moving average price is $63.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm has a market cap of $11.49 billion, a P/E ratio of 35.60, a P/E/G ratio of 1.48 and a beta of 1.30.

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

Insiders Place Their Bets

In related news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now directly owns 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.

Institutional Trading of nVent Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in NVT. Kingsview Wealth Management LLC bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $364,000. Regents Gate Capital LLP bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $6,492,000. Van ECK Associates Corp raised its holdings in shares of nVent Electric by 35.5% in the 4th quarter. Van ECK Associates Corp now owns 130,405 shares of the company's stock worth $8,888,000 after purchasing an additional 34,191 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of nVent Electric by 15.3% in the 4th quarter. Vontobel Holding Ltd. now owns 577,781 shares of the company's stock worth $39,382,000 after purchasing an additional 76,797 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of nVent Electric by 27.4% in the 4th quarter. V Square Quantitative Management LLC now owns 12,579 shares of the company's stock worth $873,000 after purchasing an additional 2,707 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

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.