nVent Electric (NYSE:NVT) Price Target Lowered to $75.00 at Barclays

nVent Electric (NYSE:NVT) had its price target cut by Barclays from $83.00 to $75.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on NVT. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and a consensus price target of $82.00.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $55.87 on Wednesday. The company has a market cap of $9.22 billion, a P/E ratio of 28.50, a P/E/G ratio of 1.48 and a beta of 1.31. The business has a fifty day simple moving average of $62.92 and a 200-day simple moving average of $68.92. nVent Electric has a 52 week low of $51.99 and a 52 week high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

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

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Hedge Funds Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently bought and sold shares of NVT. Advisors Asset Management Inc. grew its position in nVent Electric by 5.1% in the third quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock valued at $432,000 after acquiring an additional 301 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in nVent Electric by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock valued at $72,752,000 after purchasing an additional 3,599 shares in the last quarter. Citigroup Inc. increased its stake in nVent Electric by 3.3% during the 3rd quarter. Citigroup Inc. now owns 62,044 shares of the company’s stock worth $4,359,000 after buying an additional 1,959 shares during the period. Cerity Partners LLC lifted its holdings in nVent Electric by 145.7% in the 3rd quarter. Cerity Partners LLC now owns 45,248 shares of the company’s stock worth $3,179,000 after buying an additional 26,832 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

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.