Wall Street Zen Upgrades nVent Electric (NYSE:NVT) to Buy

Wall Street Zen upgraded shares of nVent Electric (NYSE:NVT - Free Report) from a hold rating to a buy rating in a research note released on Saturday.

Several other research firms have also recently commented on NVT. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. KeyCorp boosted their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Royal Bank Of Canada upped their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Citigroup lowered their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group upped their price target on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, nVent Electric has an average rating of "Buy" and a consensus price target of $80.33.

nVent Electric Stock Performance

NVT stock traded down $0.20 during mid-day trading on Friday, reaching $74.78. 815,313 shares of the stock traded hands, compared to its average volume of 1,981,566. The business has a 50-day moving average of $68.84 and a two-hundred day moving average of $63.24. The firm has a market capitalization of $12.31 billion, a PE ratio of 21.40, a P/E/G ratio of 1.49 and a beta of 1.31. 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 has a 52 week low of $41.71 and a 52 week high of $81.55.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter in the prior year, the business posted $0.78 earnings per share. The company's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts predict that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's payout ratio is 22.86%.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the 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 approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On nVent Electric

A number of large investors have recently modified their holdings of NVT. SVB Wealth LLC acquired a new position in shares of nVent Electric in the 1st quarter valued at $25,000. Capital A Wealth Management LLC acquired a new position in shares of nVent Electric in the 4th quarter valued at $27,000. Whipplewood Advisors LLC lifted its stake in shares of 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 purchasing an additional 500 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of nVent Electric in the 1st quarter valued at $36,000. Finally, Park Square Financial Group LLC acquired a new position in nVent Electric during the 4th quarter worth about $38,000. Hedge funds and other 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.