Citigroup Boosts nVent Electric (NYSE:NVT) Price Target to $91.00

nVent Electric (NYSE:NVT - Get Free Report) had its target price upped by equities researchers at Citigroup from $71.00 to $91.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 16.56% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of nVent Electric from $69.00 to $77.00 and gave the company a "buy" rating in a research report on Friday, March 15th. 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. Royal Bank of Canada increased 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, Barclays increased their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $81.60.

nVent Electric Stock Down 0.1 %

NYSE NVT traded down $0.06 during trading hours on Monday, hitting $78.07. The company's stock had a trading volume of 988,187 shares, compared to its average volume of 1,215,448. nVent Electric has a 52 week low of $40.19 and a 52 week high of $78.75. The company has a market capitalization of $12.96 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.35. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company's 50-day simple moving average is $68.54 and its two-hundred day simple moving average is $59.19.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share 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 business had revenue of $861.20 million for the quarter, compared to analysts' expectations of $866.90 million. During the same quarter last year, the firm earned $0.66 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts anticipate that nVent Electric will post 3.24 EPS for the current fiscal year.

Insider Transactions at nVent Electric

In other news, CEO Beth Wozniak sold 198,211 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction that occurred on Friday, February 16th. The shares were 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. Insiders sold a total of 400,252 shares of company stock worth $25,713,777 in the last quarter. Insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. FinTrust Capital Advisors LLC grew its stake in nVent Electric by 17.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company's stock valued at $62,000 after buying an additional 157 shares in the last quarter. Private Advisor Group LLC boosted its holdings in nVent Electric by 3.2% in the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company's stock valued at $367,000 after purchasing an additional 191 shares during the period. State of Michigan Retirement System boosted its holdings in nVent Electric by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company's stock valued at $2,352,000 after purchasing an additional 200 shares during the period. Quent Capital LLC boosted its holdings in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company's stock valued at $25,000 after purchasing an additional 234 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in nVent Electric by 5.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company's stock valued at $253,000 after purchasing an additional 236 shares during the period. 90.05% of the stock is currently owned by hedge funds and other 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.