Citigroup Boosts nVent Electric (NYSE:NVT) Price Target to $92.00

nVent Electric (NYSE:NVT - Free Report) had its target price upped by Citigroup from $91.00 to $92.00 in a research note published on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. Barclays lifted their price target on nVent Electric from $74.00 to $85.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a buy rating and a $83.00 price target on the stock. The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a buy rating in a research note on Monday. Finally, Royal Bank of Canada cut their price objective on shares of nVent Electric from $89.00 to $88.00 and set an outperform rating on the stock in a research note on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $87.00.

nVent Electric Stock Up 0.7 %

Shares of NVT traded up $0.52 during midday trading on Monday, hitting $76.41. 2,542,743 shares of the company's stock traded hands, compared to its average volume of 1,328,219. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. nVent Electric has a 1 year low of $40.22 and a 1 year high of $78.98. The firm's fifty day moving average is $72.41 and its 200-day moving average is $61.98.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm's quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. As a group, sell-side analysts anticipate that nVent Electric will post 3.25 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, April 25th. nVent Electric's dividend payout ratio is currently 22.16%.

Insider Activity at nVent Electric

In other news, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the sale, the director now directly owns 8,277 shares of the company's stock, valued at approximately $529,976.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Randall J. Hogan sold 184,572 shares of the business's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the sale, the director now directly owns 8,277 shares in the company, valued at $529,976.31. 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 the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 400,252 shares of company stock worth $25,713,777. 2.50% of the stock is owned by company insiders.

Institutional Trading of nVent Electric

Several institutional investors have recently modified their holdings of NVT. Sequoia Financial Advisors LLC purchased a new stake in nVent Electric during the 4th quarter worth approximately $2,492,000. Citigroup Inc. increased its position in shares of nVent Electric by 73.9% during the third quarter. Citigroup Inc. now owns 71,372 shares of the company's stock worth $3,782,000 after purchasing an additional 30,325 shares in the last quarter. Mariner LLC raised its stake in nVent Electric by 10.1% in the 3rd quarter. Mariner LLC now owns 24,649 shares of the company's stock valued at $1,306,000 after purchasing an additional 2,263 shares during the last quarter. LPL Financial LLC lifted its holdings in nVent Electric by 2.0% in the 3rd quarter. LPL Financial LLC now owns 172,171 shares of the company's stock valued at $9,123,000 after purchasing an additional 3,418 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in nVent Electric by 217.5% in the 4th quarter. Vontobel Holding Ltd. now owns 25,874 shares of the company's stock valued at $1,529,000 after purchasing an additional 17,724 shares in the last quarter. Institutional investors and hedge funds 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.