nVent Electric (NYSE:NVT) Price Target Raised to $85.00 at Royal Bank of Canada

nVent Electric (NYSE:NVT) had its target price upped by Royal Bank of Canada from $80.00 to $85.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently commented on NVT. KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays upped their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup raised their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $86.33.

nVent Electric Trading Up 3.2 %

Shares of NVT stock opened at $70.65 on Friday. nVent Electric has a 12-month low of $55.19 and a 12-month high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $73.88 and a 200-day moving average of $71.70. The firm has a market cap of $11.64 billion, a P/E ratio of 20.72, a PEG ratio of 3.86 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the prior year, the business earned $0.84 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that nVent Electric will post 2.5 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio is presently 23.46%.

Insider Activity

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On nVent Electric

Institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC increased its holdings in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. ORG Wealth Partners LLC bought a new position in nVent Electric in the third quarter valued at $29,000. UMB Bank n.a. raised its position in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares in the last quarter. First Foundation Advisors bought a new stake in nVent Electric during the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of nVent Electric in the 2nd quarter worth about $34,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.