nVent Electric (NYSE:NVT) PT Lowered to $88.00

nVent Electric (NYSE:NVT - Free Report) had its target price reduced by Royal Bank of Canada from $89.00 to $88.00 in a report released on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on NVT. Barclays boosted their price target on nVent Electric from $74.00 to $85.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Citigroup boosted their price target on nVent Electric from $71.00 to $91.00 and gave the company a buy rating in a report on Monday, April 8th. The Goldman Sachs Group lifted their price target on nVent Electric from $77.00 to $87.00 and gave the stock a buy rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on 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 investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $87.00.

nVent Electric Stock Up 0.7 %

NYSE:NVT traded up $0.52 during trading hours on Monday, reaching $76.41. 2,542,743 shares of the company traded hands, compared to its average volume of 1,328,219. The business's 50-day moving average price is $72.41 and its two-hundred day moving average price is $61.98. The stock has a market capitalization of $12.68 billion, a P/E ratio of 22.19, a P/E/G 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 company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million during the quarter, compared to analysts' expectations of $864.14 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm's quarterly revenue was up 18.0% compared to the same quarter last year. Analysts predict that nVent Electric will post 3.25 earnings per share for the current year.

nVent Electric Dividend Announcement

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

Insiders Place Their Bets

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares of the company's stock, valued at approximately $21,987.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares of the company's stock, valued at approximately $21,987.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction dated 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 sale, the director now directly owns 8,277 shares in the company, valued at $529,976.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 400,252 shares of company stock valued at $25,713,777. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors have recently modified their holdings of NVT. Congress Asset Management Co. MA acquired a new stake in shares of nVent Electric during the 3rd quarter valued at about $116,908,000. FMR LLC boosted its holdings in nVent Electric by 41.8% in the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company's stock worth $347,405,000 after buying an additional 1,932,142 shares during the last quarter. Norges Bank acquired a new stake in nVent Electric in the 4th quarter worth about $109,630,000. Massachusetts Financial Services Co. MA boosted its holdings in nVent Electric by 68.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company's stock worth $209,419,000 after buying an additional 1,604,534 shares during the last quarter. Finally, Robeco Schweiz AG boosted its holdings in nVent Electric by 3,911.6% in the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company's stock worth $69,724,000 after buying an additional 1,283,000 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.