nVent Electric (NYSE:NVT) Price Target Raised to $86.00

nVent Electric (NYSE:NVT) had its price target raised by Royal Bank of Canada from $85.00 to $86.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on NVT. KeyCorp increased their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Citigroup lowered their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays boosted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus price target of $86.33.

nVent Electric Stock Performance

NVT opened at $67.85 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric has a 12-month low of $56.44 and a 12-month high of $86.57. The business has a 50 day moving average of $70.68 and a 200-day moving average of $70.24. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 3.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts expect that nVent Electric will post 3.03 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were given a dividend of $0.20 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.80 annualized dividend and a yield of 1.18%. nVent Electric’s dividend payout ratio is currently 40.82%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Several institutional investors and hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB raised its stake in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares during the last quarter. Calamos Advisors LLC increased its position in nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares in the last quarter. Larson Financial Group LLC lifted its stake in nVent Electric by 91.9% in 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 during the last quarter. Finally, Huntington National Bank boosted its position in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. 90.05% of the stock is currently owned by 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.