KeyCorp Has Lowered Expectations for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price target cut by research analysts at KeyCorp from $84.00 to $75.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 41.81% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Barclays decreased their target price on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Citigroup reduced their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $80.50.

nVent Electric Trading Down 3.1 %

Shares of nVent Electric stock opened at $52.89 on Friday. nVent Electric has a 12-month low of $51.99 and a 12-month high of $86.57. The firm’s 50 day simple moving average is $62.19 and its two-hundred day simple moving average is $68.80. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.48 and a beta of 1.31.

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

Institutional Trading of nVent Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVT. Wealth Enhancement Advisory Services LLC boosted its stake in shares of nVent Electric by 8.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,732 shares of the company’s stock worth $2,299,000 after acquiring an additional 2,759 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in nVent Electric in the 4th quarter worth about $75,000. Park Square Financial Group LLC purchased a new position in nVent Electric during the fourth quarter worth approximately $38,000. Capital A Wealth Management LLC acquired a new stake in nVent Electric in the fourth quarter valued at approximately $27,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of nVent Electric by 145.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock valued at $99,961,000 after buying an additional 869,906 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.