nVent Electric (NYSE:NVT) Price Target Lowered to $70.00 at Barclays

nVent Electric (NYSE:NVT) had its price target trimmed by Barclays from $75.00 to $70.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the company. Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup cut their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. KeyCorp lowered their price target on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group cut their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Seaport Res Ptn raised 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $77.50.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $45.28 on Friday. The business has a fifty day simple moving average of $59.82 and a two-hundred day simple moving average of $68.31. The firm has a market capitalization of $7.47 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric has a 12 month low of $41.90 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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%. On average, equities analysts forecast that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

Institutional Trading of nVent Electric

A number of institutional investors have recently made changes to their positions in the stock. Crews Bank & Trust purchased a new position in shares of nVent Electric in the 4th quarter worth $26,000. Capital A Wealth Management LLC bought a new position in nVent Electric in the fourth quarter valued at about $27,000. Park Square Financial Group LLC purchased a new position in nVent Electric in the fourth quarter worth about $38,000. Tsfg LLC bought a new stake in shares of nVent Electric during the 4th quarter valued at about $51,000. Finally, Raleigh Capital Management Inc. increased its position in shares of nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

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.