nVent Electric (NYSE:NVT) Raised to “Strong-Buy” at Seaport Res Ptn

Seaport Res Ptn upgraded shares of nVent Electric (NYSE:NVT) from a hold rating to a strong-buy rating in a report published on Friday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Barclays decreased their price objective on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $83.33.

nVent Electric Price Performance

Shares of NYSE NVT opened at $57.11 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm’s 50-day simple moving average is $63.63 and its 200 day simple moving average is $69.06. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric has a fifty-two week low of $51.99 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, research analysts anticipate that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Crews Bank & Trust purchased a new stake in nVent Electric in the fourth quarter worth about $26,000. Capital A Wealth Management LLC bought a new stake in nVent Electric during the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric during the 4th quarter worth approximately $38,000. Finally, Brooklyn Investment Group purchased a new position in shares of nVent Electric during the 3rd quarter worth approximately $44,000. 90.05% of the stock is currently owned by 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.