nVent Electric (NYSE:NVT) Price Target Increased to $85.00 by Analysts at Barclays

nVent Electric (NYSE:NVT - Free Report) had its target price boosted by Barclays from $74.00 to $85.00 in a research report report published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently commented on NVT. Citigroup boosted their price target on shares of nVent Electric from $59.00 to $64.00 and gave the stock a buy rating in a research note on Monday, December 11th. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the company a buy rating in a research note on Friday, March 15th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a buy rating and a $83.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $76.20.

nVent Electric Stock Performance

NVT traded up $0.04 during midday trading on Tuesday, reaching $75.20. The company had a trading volume of 843,870 shares, compared to its average volume of 1,229,262. The business has a 50-day moving average price of $67.07 and a two-hundred day moving average price of $58.56. nVent Electric has a 12-month low of $40.19 and a 12-month high of $76.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The stock has a market cap of $12.41 billion, a PE ratio of 22.31, a P/E/G ratio of 1.61 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The company had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect that nVent Electric will post 3.24 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.01%. nVent Electric's dividend payout ratio (DPR) is presently 22.55%.

Insiders Place Their Bets

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares of the company's stock, valued at $2,730,334.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 400,252 shares of company stock worth $25,713,777. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of nVent Electric by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company's stock valued at $619,079,000 after acquiring an additional 302,124 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of nVent Electric by 0.8% during the 1st quarter. BlackRock Inc. now owns 15,251,841 shares of the company's stock valued at $654,914,000 after acquiring an additional 128,168 shares during the last quarter. FMR LLC boosted its holdings in shares of nVent Electric by 41.8% during the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company's stock valued at $347,405,000 after acquiring an additional 1,932,142 shares during the last quarter. State Street Corp boosted its holdings in shares of nVent Electric by 1.7% during the 1st quarter. State Street Corp now owns 4,842,509 shares of the company's stock valued at $207,932,000 after acquiring an additional 81,399 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of nVent Electric by 14.9% during the 4th quarter. Nuveen Asset Management LLC now owns 4,797,742 shares of the company's stock valued at $283,499,000 after acquiring an additional 623,666 shares during 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.