nVent Electric (NYSE:NVT) Upgraded by Seaport Res Ptn to “Strong-Buy” Rating

Seaport Res Ptn upgraded shares of nVent Electric (NYSE:NVT) from a hold rating to a strong-buy rating in a research note published on Friday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Royal Bank of Canada lifted their price target 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. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Barclays decreased their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $83.33.

nVent Electric Stock Performance

NYSE:NVT opened at $57.11 on Friday. The firm’s fifty day simple moving average is $63.63 and its 200 day simple moving average is $68.98. 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 twelve month low of $51.99 and a twelve month high of $86.57. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, equities research analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVT. Crews Bank & Trust bought a new position in shares of nVent Electric during the 4th quarter valued at about $26,000. Larson Financial Group LLC lifted its stake in nVent Electric by 91.9% during the third 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. Capital A Wealth Management LLC purchased a new position in nVent Electric in the 4th quarter worth about $27,000. Park Square Financial Group LLC acquired a new stake in nVent Electric during the 4th quarter worth about $38,000. Finally, Brooklyn Investment Group purchased a new stake in nVent Electric during the third quarter valued at about $44,000. 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.