nVent Electric (NYSE:NVT) Stock Price Expected to Rise, Barclays Analyst Says

nVent Electric (NYSE:NVT) had its price target lifted by Barclays from $70.00 to $74.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 8.77% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. KeyCorp lifted their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 5th. The Goldman Sachs Group decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, March 17th. Finally, Citigroup decreased their price target on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus price target of $70.67.

nVent Electric Trading Down 0.4%

Shares of NVT stock opened at $68.03 on Monday. 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 stock has a market capitalization of $11.20 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30. The company has a 50 day moving average price of $58.83 and a 200 day moving average price of $63.64. nVent Electric has a fifty-two week low of $41.71 and a fifty-two week high of $82.05.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to analysts’ expectations of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. Equities research analysts predict that nVent Electric will post 3.04 EPS for the current fiscal year.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of nVent Electric

Several institutional investors and hedge funds have recently bought and sold shares of NVT. Capital Research Global Investors purchased a new stake in nVent Electric in the 4th quarter valued at $384,749,000. Nuveen LLC purchased a new stake in nVent Electric in the 1st quarter valued at $229,615,000. Norges Bank purchased a new stake in nVent Electric in the 4th quarter valued at $197,434,000. Millennium Management LLC raised its position in nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock valued at $151,017,000 after purchasing an additional 1,953,026 shares during the last quarter. Finally, American Century Companies Inc. raised its position in nVent Electric by 1,869.8% in the 1st quarter. American Century Companies Inc. now owns 1,462,840 shares of the company’s stock valued at $76,682,000 after purchasing an additional 1,388,578 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.