nVent Electric (NYSE:NVT) Price Target Cut to $88.00

nVent Electric (NYSE:NVT) had its price objective cut by research analysts at Royal Bank of Canada from $89.00 to $88.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 13.42% from the stock’s current price.

NVT has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price target for the company. Barclays raised their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Citigroup upped their target price on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, nVent Electric has an average rating of “Moderate Buy” and a consensus target price of $87.00.

nVent Electric Trading Up 1.6 %

Shares of NYSE:NVT opened at $77.59 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. nVent Electric has a 1 year low of $40.22 and a 1 year high of $78.98. The company has a market cap of $12.88 billion, a P/E ratio of 22.62, a PEG ratio of 1.63 and a beta of 1.35. The stock’s fifty day moving average price is $72.84 and its 200-day moving average price is $62.39.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. nVent Electric’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. Sell-side analysts expect that nVent Electric will post 3.25 earnings per share for the current year.

Insider Activity at nVent Electric

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the sale, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Randall J. Hogan sold 184,572 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the transaction, the director now directly owns 8,277 shares in the company, valued at $529,976.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the sale, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 397,752 shares of company stock worth $25,553,202. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC lifted its holdings in shares of nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after buying an additional 157 shares in the last quarter. HMS Capital Management LLC increased its holdings in nVent Electric by 3.2% in the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after acquiring an additional 183 shares during the last quarter. Private Advisor Group LLC lifted its stake in nVent Electric by 3.2% in the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after purchasing an additional 191 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of nVent Electric by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after purchasing an additional 200 shares during the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during 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.