nVent Electric (NYSE:NVT) had its target price boosted by KeyCorp from $34.00 to $37.00 in a research note issued to investors on Tuesday, Price Targets.com reports. The firm currently has an overweight rating on the stock.
Several other equities analysts also recently weighed in on the company. Royal Bank of Canada increased their target price on nVent Electric from $27.00 to $30.00 and gave the stock an outperform rating in a research report on Thursday, March 4th. Rosenblatt Securities upped their price target on nVent Electric from $35.00 to $38.00 and gave the stock a buy rating in a research note on Monday, May 3rd. Barclays upped their price target on nVent Electric from $39.00 to $44.00 and gave the stock an overweight rating in a research note on Monday, May 3rd. Finally, Zacks Investment Research upgraded nVent Electric from a hold rating to a buy rating and set a $34.00 price target for the company in a research note on Wednesday, April 28th. Six research analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $35.67.
NYSE NVT opened at $31.89 on Tuesday. The stock’s 50-day simple moving average is $30.77. nVent Electric has a twelve month low of $16.92 and a twelve month high of $33.29. The stock has a market capitalization of $5.35 billion, a P/E ratio of -3,189,000.00, a PEG ratio of 1.99 and a beta of 1.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.72 and a quick ratio of 1.21.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 6th. Shareholders of record on Friday, July 23rd will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 22nd. This represents a $0.70 annualized dividend and a yield of 2.20%. nVent Electric’s dividend payout ratio is presently 46.67%.
In other news, Director Randall J. Hogan sold 21,060 shares of the stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $31.61, for a total value of $665,706.60. Following the completion of the sale, the director now owns 193,824 shares in the company, valued at $6,126,776.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Randall J. Hogan sold 77,764 shares of the stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $32.12, for a total value of $2,497,779.68. Following the completion of the sale, the director now owns 250,528 shares of the company’s stock, valued at approximately $8,046,959.36. The disclosure for this sale can be found here. Insiders have sold 109,660 shares of company stock valued at $3,510,455 over the last 90 days. 2.00% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. River & Mercantile Asset Management LLP acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $6,024,000. Envestnet Asset Management Inc. grew its stake in shares of nVent Electric by 35.7% in the first quarter. Envestnet Asset Management Inc. now owns 93,231 shares of the company’s stock valued at $2,602,000 after buying an additional 24,552 shares in the last quarter. Rhumbline Advisers grew its stake in shares of nVent Electric by 5.5% in the first quarter. Rhumbline Advisers now owns 484,777 shares of the company’s stock valued at $13,530,000 after buying an additional 25,309 shares in the last quarter. Nuveen Asset Management LLC grew its stake in nVent Electric by 273.2% during the 4th quarter. Nuveen Asset Management LLC now owns 2,307,193 shares of the company’s stock valued at $53,734,000 after purchasing an additional 1,688,904 shares in the last quarter. Finally, Mcrae Capital Management Inc. acquired a new stake in nVent Electric during the 1st quarter valued at approximately $202,000. Institutional investors and hedge funds own 86.42% of the company’s stock.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Western and Eastern Europe included in European Union, China, Eastern Europe not included in European Union, Latin America, the Middle East, Southeast Asia, Australia, and Japan.
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