nVent Electric (NYSE:NVT) Upgraded to “Buy” at CL King

CL King upgraded shares of nVent Electric (NYSE:NVT) from a neutral rating to a buy rating in a report published on Monday, Marketbeat Ratings reports. They currently have $70.00 price target on the stock.

Several other equities research analysts also recently weighed in on the stock. Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays reduced their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Royal Bank of Canada upped their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $83.33.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $56.72 on Monday. The firm has a market cap of $9.36 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The firm’s fifty day moving average is $64.69 and its 200-day moving average is $69.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric has a 52 week low of $51.99 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Sell-side analysts predict that nVent Electric will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVT. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the 4th quarter valued at approximately $26,000. Larson Financial Group LLC lifted its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of nVent Electric during the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new stake in shares of nVent Electric during the 4th quarter valued at approximately $38,000. Finally, Huntington National Bank lifted its stake in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other 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.