nVent Electric (NYSE:NVT) Price Target Raised to $91.00

nVent Electric (NYSE:NVT) had its price target hoisted by Citigroup from $78.00 to $91.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

NVT has been the topic of several other reports. KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays lifted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $75.32 on Monday. The company has a market cap of $12.41 billion, a PE ratio of 22.09, a P/E/G ratio of 3.96 and a beta of 1.25. nVent Electric has a fifty-two week low of $55.19 and a fifty-two week high of $86.57. The firm has a 50-day simple moving average of $74.69 and a 200 day simple moving average of $72.83. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. On average, sell-side analysts anticipate that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction on Monday, November 25th. The stock was 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 owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its holdings in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of nVent Electric during the second quarter worth $31,000. ORG Wealth Partners LLC purchased a new stake in shares of nVent Electric during the third quarter valued at $29,000. UMB Bank n.a. boosted its position in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the period. Finally, First Foundation Advisors acquired a new stake in nVent Electric during the 2nd quarter worth about $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.