Royal Bank Of Canada Issues Positive Forecast for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price target lifted by Royal Bank Of Canada from $85.00 to $102.00 in a research note released on Monday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on NVT. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Roth Capital started coverage on shares of nVent Electric in a report on Wednesday, July 23rd. They issued a “buy” rating and a $89.00 target price for the company. Citigroup lifted their target price on shares of nVent Electric from $69.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Wall Street Zen raised shares of nVent Electric from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. Finally, KeyCorp lifted their target price on shares of nVent Electric from $78.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and a consensus target price of $87.00.

nVent Electric Trading Up 0.4%

Shares of NYSE NVT opened at $90.27 on Monday. nVent Electric has a 1 year low of $41.71 and a 1 year high of $91.52. The stock has a market cap of $14.86 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.35. The firm has a 50-day moving average of $73.00 and a 200 day moving average of $64.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $963.10 million during the quarter, compared to analysts’ expectations of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. nVent Electric’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. As a group, sell-side analysts expect that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Saturday, January 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, July 18th. nVent Electric’s payout ratio is presently 22.79%.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president directly owned 32,665 shares of the company’s stock, valued at $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by insiders.

Institutional Trading of nVent Electric

Large investors have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC bought a new stake in nVent Electric during the fourth quarter valued at approximately $27,000. Trust Co. of Vermont grew its position in nVent Electric by 57.8% during the second quarter. Trust Co. of Vermont now owns 434 shares of the company’s stock valued at $32,000 after buying an additional 159 shares during the period. SVB Wealth LLC bought a new stake in nVent Electric during the first quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new stake in nVent Electric during the fourth quarter valued at approximately $38,000. Finally, Whipplewood Advisors LLC grew its position in nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the period. 90.05% of the stock is currently owned by institutional investors.

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.