nVent Electric (NYSE:NVT) Upgraded by CL King to “Buy” Rating

nVent Electric (NYSE:NVTGet Free Report) was upgraded by equities research analysts at CL King from a “neutral” rating to a “buy” rating in a research note issued on Monday,Finviz reports. The brokerage currently has a $70.00 price objective on the stock. CL King’s price objective points to a potential upside of 23.15% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays decreased their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has an average rating of “Buy” and an average price target of $83.33.

View Our Latest Research Report on nVent Electric

nVent Electric Price Performance

Shares of NVT opened at $56.84 on Monday. The firm has a fifty day simple moving average of $64.98 and a two-hundred day simple moving average of $69.38. The firm has a market cap of $9.38 billion, a PE ratio of 29.00, a P/E/G ratio of 1.48 and a beta of 1.31. 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 1-year low of $51.99 and a 1-year high of $86.57.

nVent Electric (NYSE:NVTGet Free Report) last issued 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 return on equity of 14.52% and a net margin of 10.09%. On average, equities analysts anticipate that nVent Electric will post 3.04 EPS for the current year.

Institutional Trading of nVent Electric

Hedge funds and other institutional investors have recently modified their holdings of the company. Crews Bank & Trust purchased a new position in shares of nVent Electric during the 4th quarter valued at $26,000. Larson Financial Group LLC lifted its position 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 acquiring an additional 181 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of nVent Electric in the fourth quarter worth about $27,000. Park Square Financial Group LLC purchased a new stake in shares of nVent Electric during the fourth quarter worth about $38,000. Finally, Huntington National Bank grew its position in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Company Profile

(Get Free Report)

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.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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