nVent Electric (NYSE:NVT) Given New $72.00 Price Target at KeyCorp

nVent Electric (NYSE:NVT) had its price objective lifted by KeyCorp from $60.00 to $72.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

NVT has been the topic of a number of other reports. Citigroup dropped their price objective on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada boosted their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. The Goldman Sachs Group dropped their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $70.00.

nVent Electric Stock Up 2.5 %

Shares of NVT stock opened at $61.11 on Monday. The stock’s fifty day moving average price is $53.63 and its 200 day moving average price is $65.17. nVent Electric has a 1-year low of $41.71 and a 1-year high of $86.57. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, research analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 22.86%.

Institutional Investors Weigh In On nVent Electric

Several hedge funds have recently bought and sold shares of the stock. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Capital A Wealth Management LLC purchased a new stake in nVent Electric in the 4th quarter worth $27,000. Whipplewood Advisors LLC raised its position in nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock worth $32,000 after acquiring an additional 500 shares during the period. Hughes Financial Services LLC purchased a new position in nVent Electric during the first quarter valued at $36,000. Finally, Park Square Financial Group LLC purchased a new position in nVent Electric during the fourth quarter valued at $38,000. Hedge funds and other 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.