Barclays Forecasts Strong Price Appreciation for nVent Electric (NYSE:NVT) Stock

nVent Electric (NYSE:NVT) had its price objective upped by Barclays from $141.00 to $150.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 27.01% from the stock’s current price.

Other analysts have also issued reports about the stock. Royal Bank Of Canada lifted their price target on shares of nVent Electric from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. UBS Group restated a “buy” rating and set a $135.00 price objective on shares of nVent Electric in a research report on Friday, March 13th. Glj Research initiated coverage on shares of nVent Electric in a report on Thursday, March 5th. They issued a “buy” rating and a $151.00 target price on the stock. Wall Street Zen downgraded shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings upgraded shares of nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 11th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.63.

nVent Electric Stock Down 2.6%

NVT stock opened at $118.11 on Wednesday. nVent Electric has a 1-year low of $41.71 and a 1-year high of $129.94. The business has a fifty day moving average price of $115.35 and a 200-day moving average price of $107.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16. The stock has a market capitalization of $19.10 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.26 and a beta of 1.28.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Saturday, February 7th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm posted $0.59 earnings per share. nVent Electric’s revenue was up 41.9% compared to the same quarter last year. Equities analysts forecast that nVent Electric will post 3.04 earnings per share for the current fiscal year.

Insider Activity at nVent Electric

In related news, Director Susan M. Cameron sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total transaction of $572,600.00. Following the completion of the transaction, the director directly owned 13,405 shares in the company, valued at approximately $1,535,140.60. The trade was a 27.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry W. Burris sold 5,244 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $112.27, for a total transaction of $588,743.88. Following the sale, the director owned 46,371 shares in the company, valued at approximately $5,206,072.17. The trade was a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 17,841 shares of company stock worth $2,046,166. 1.80% of the stock is owned by company insiders.

Institutional Trading of nVent Electric

Several institutional investors and hedge funds have recently modified their holdings of NVT. AQR Capital Management LLC increased its stake in nVent Electric by 33.1% in the 1st quarter. AQR Capital Management LLC now owns 94,968 shares of the company’s stock worth $4,841,000 after buying an additional 23,606 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of nVent Electric by 575.6% in the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company’s stock valued at $461,000 after acquiring an additional 7,500 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of nVent Electric by 436.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company’s stock valued at $56,000 after acquiring an additional 872 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of nVent Electric by 48.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,443 shares of the company’s stock worth $106,000 after acquiring an additional 470 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of nVent Electric by 8.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,581 shares of the company’s stock worth $629,000 after acquiring an additional 696 shares during the period. 90.05% of the stock is currently owned by institutional investors.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.