nVent Electric (NYSE:NVT) Price Target Raised to $87.00 at The Goldman Sachs Group

nVent Electric (NYSE:NVT) had its price objective hoisted by The Goldman Sachs Group from $77.00 to $87.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Citigroup boosted their target price on nVent Electric from $71.00 to $91.00 and gave the stock a buy rating in a research report on Monday, April 8th. Barclays boosted their price objective on nVent Electric from $74.00 to $85.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a buy rating and a $83.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of nVent Electric from $65.00 to $72.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. 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.com, the company currently has a consensus rating of Moderate Buy and an average price target of $87.00.

nVent Electric Stock Up 3.0 %

Shares of NYSE:NVT opened at $79.92 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The firm has a market cap of $13.26 billion, a P/E ratio of 23.30, a P/E/G ratio of 1.63 and a beta of 1.35. nVent Electric has a 12 month low of $40.22 and a 12 month high of $80.03. The company’s 50-day moving average price is $73.12 and its two-hundred day moving average price is $62.51.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The business had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. nVent Electric’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. As a group, research analysts forecast that nVent Electric will post 3.25 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

Insider Activity

In related news, 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 transaction, the director now owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction dated Friday, February 16th. The stock was 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 $2,730,334.08. The disclosure for this sale can be found here. Insiders sold a total of 199,541 shares of company stock valued at $12,810,216 in the last ninety days. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On nVent Electric

Several institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its stake in nVent Electric by 9.3% in the third quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company’s stock valued at $825,000 after buying an additional 1,325 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in nVent Electric by 3.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock worth $472,000 after purchasing an additional 307 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in nVent Electric during the 3rd quarter worth about $153,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of nVent Electric by 9.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,585 shares of the company’s stock valued at $1,727,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Baystate Wealth Management LLC acquired a new position in shares of nVent Electric during the third quarter worth about $33,000. Institutional investors own 90.05% of the company’s stock.

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.