nVent Electric (NYSE:NVT) Given New $70.00 Price Target at Barclays

nVent Electric (NYSE:NVT) had its price target dropped by investment analysts at Barclays from $75.00 to $70.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 54.59% from the company’s current price.

Several other research analysts have also commented on NVT. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup decreased their price objective 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. Finally, KeyCorp lowered their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $77.50.

nVent Electric Stock Down 6.3 %

NVT opened at $45.28 on Friday. 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 has a twelve month low of $41.90 and a twelve month high of $86.57. The company has a market cap of $7.47 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company has a 50-day moving average price of $59.82 and a 200 day moving average price of $68.30.

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

Hedge Funds Weigh In On nVent Electric

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Hawaiian Bank increased its holdings in shares of nVent Electric by 4.5% in the 1st quarter. First Hawaiian Bank now owns 37,388 shares of the company’s stock valued at $1,960,000 after acquiring an additional 1,618 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of nVent Electric by 43.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,112 shares of the company’s stock worth $58,000 after acquiring an additional 339 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in nVent Electric by 8.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,732 shares of the company’s stock valued at $2,299,000 after purchasing an additional 2,759 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in nVent Electric during the fourth quarter worth about $75,000. Finally, Park Square Financial Group LLC bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $38,000. Hedge funds and other 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.