nVent Electric (NYSE:NVT) Price Target Raised to $92.00 at Citigroup

nVent Electric (NYSE:NVT) had its target price lifted by Citigroup from $91.00 to $92.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on NVT. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a buy rating and a $83.00 price objective on the stock. The Goldman Sachs Group upped their price target on shares of nVent Electric from $77.00 to $87.00 and gave the company a buy rating in a research report on Monday. Royal Bank of Canada lowered their price objective on nVent Electric from $89.00 to $88.00 and set an outperform rating for the company in a research report on Monday. Finally, Barclays boosted their price objective on nVent Electric from $74.00 to $85.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, nVent Electric has a consensus rating of Moderate Buy and a consensus price target of $87.00.

nVent Electric Stock Performance

NYSE NVT opened at $76.38 on Monday. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.63 and a beta of 1.35. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric has a twelve month low of $40.22 and a twelve month high of $78.98. The stock has a fifty day simple moving average of $72.62 and a 200 day simple moving average of $62.17.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The company 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 firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. Sell-side analysts expect that nVent Electric will post 3.25 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Transactions at nVent Electric

In related news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction dated 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 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 is accessible through this link. In related news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the sale, the insider now owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Randall J. Hogan sold 184,572 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the transaction, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock valued at $25,713,777 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently made changes to their positions in NVT. Quent Capital LLC raised its stake in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the last quarter. HM Payson & Co. purchased a new stake in nVent Electric in the 3rd quarter valued at $26,000. Banque Cantonale Vaudoise purchased a new stake in nVent Electric in the 1st quarter valued at $26,000. Livelsberger Financial Advisory bought a new position in nVent Electric during the 4th quarter valued at $28,000. Finally, Pacific Center for Financial Services purchased a new position in nVent Electric during the 3rd quarter worth $32,000. 90.05% of the stock is 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.