nVent Electric (NYSE:NVT) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of nVent Electric (NYSE:NVT) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the company. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Barclays dropped their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $83.33.

nVent Electric Price Performance

NVT stock opened at $57.11 on Friday. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a 50 day simple moving average of $63.63 and a 200 day simple moving average of $69.06. nVent Electric has a 1 year low of $51.99 and a 1 year high of $86.57.

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

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.40%. nVent Electric’s payout ratio is 40.82%.

Institutional Trading of nVent Electric

A number of large investors have recently bought and sold shares of NVT. Crews Bank & Trust bought a new stake in shares of nVent Electric during the 4th quarter valued at about $26,000. Larson Financial Group LLC lifted its stake in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. Capital A Wealth Management LLC bought a new position in shares of nVent Electric during the 4th quarter worth approximately $27,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric during the 4th quarter worth approximately $38,000. Finally, Brooklyn Investment Group bought a new stake in shares of nVent Electric in the 3rd quarter valued at $44,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.