nVent Electric (NYSE:NVT) Price Target Cut to $88.00 by Analysts at Royal Bank of Canada

nVent Electric (NYSE:NVT) had its price target reduced by Royal Bank of Canada from $89.00 to $88.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also commented on NVT. Barclays boosted their price target on nVent Electric from $74.00 to $85.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a buy rating in a research report on Monday. Citigroup lifted their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research report on Monday, March 11th. They set a buy rating and a $83.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $87.00.

nVent Electric Price Performance

Shares of NVT opened at $76.38 on Monday. nVent Electric has a twelve month low of $40.22 and a twelve month high of $78.98. The stock’s 50 day moving average is $72.62 and its two-hundred day moving average is $62.17. The firm has a market capitalization of $12.68 billion, a PE ratio of 22.28, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. The business had revenue of $874.60 million for 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%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 EPS. Research analysts anticipate that nVent Electric will post 3.25 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.00%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction 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 directly owns 342 shares of the company’s stock, valued at $21,987.18. The disclosure for this sale can be found here. In the last three months, insiders sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Several institutional investors have recently made changes to their positions in NVT. Quent Capital LLC grew its stake 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 buying an additional 234 shares during the period. HM Payson & Co. purchased a new stake in nVent Electric during the 3rd quarter worth $26,000. Banque Cantonale Vaudoise purchased a new stake in nVent Electric during the 1st quarter worth $26,000. Livelsberger Financial Advisory purchased a new stake in nVent Electric during the 4th quarter worth $28,000. Finally, Pacific Center for Financial Services purchased a new stake in nVent Electric during the 3rd quarter worth $32,000. 90.05% of the stock is owned by hedge funds and other 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.