nVent Electric (NYSE:NVT) Price Target Increased to $92.00 by Analysts at Citigroup

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

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

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $79.92 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. The stock’s 50-day moving average is $73.12 and its 200-day moving average is $62.51. nVent Electric has a one year low of $40.22 and a one year high of $80.03.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Equities analysts predict that nVent Electric will post 3.25 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 0.95%. nVent Electric’s dividend payout ratio (DPR) is 22.16%.

Insider Buying and Selling at nVent Electric

In other news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Randall J. Hogan sold 184,572 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the transaction, the director now directly owns 8,277 shares of the company’s stock, valued at $529,976.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The disclosure for this sale can be found here. Insiders have sold a total of 199,541 shares of company stock worth $12,810,216 over the last ninety days. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

A number of hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric during the 1st quarter worth $26,000. Quent Capital LLC lifted its position in nVent Electric by 123.2% during 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 period. Rise Advisors LLC acquired a new stake in nVent Electric during the first quarter worth about $32,000. Livelsberger Financial Advisory acquired a new stake in nVent Electric during the fourth quarter worth about $28,000. Finally, HM Payson & Co. bought a new position in nVent Electric in the 3rd quarter valued at about $26,000. Institutional investors 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.