Barclays Lowers nVent Electric (NYSE:NVT) Price Target to $75.00

nVent Electric (NYSE:NVT) had its target price cut by stock analysts at Barclays from $83.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 37.33% from the company’s current price.

Several other equities research analysts have also recently commented on NVT. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $82.00.

nVent Electric Stock Down 2.1 %

nVent Electric stock opened at $54.61 on Wednesday. The firm has a 50 day moving average price of $62.58 and a two-hundred day moving average price of $68.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric has a 52-week low of $51.99 and a 52-week high of $86.57. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.48 and a beta of 1.31.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB raised its holdings in shares of nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after acquiring an additional 13,483 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of nVent Electric in the fourth quarter worth approximately $1,520,000. TT International Asset Management LTD lifted its holdings in shares of nVent Electric by 20.4% in the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI boosted its position in shares of nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after buying an additional 11,349 shares during the last quarter. 90.05% of the stock is 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.