nVent Electric (NYSE:NVT) Given New $150.00 Price Target at Barclays

nVent Electric (NYSE:NVT) had its target price lifted by Barclays from $141.00 to $150.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on NVT. Zacks Research cut nVent Electric from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. UBS Group reiterated a “buy” rating and issued a $135.00 target price on shares of nVent Electric in a research note on Friday, March 13th. Wall Street Zen downgraded shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a report on Monday, February 23rd. Royal Bank Of Canada increased their price target on shares of nVent Electric from $138.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings raised shares of nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.63.

nVent Electric Price Performance

NYSE NVT opened at $121.47 on Wednesday. The company has a market cap of $19.64 billion, a PE ratio of 28.25, a P/E/G ratio of 1.23 and a beta of 1.31. The firm’s 50 day moving average price is $115.21 and its 200-day moving average price is $107.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.16 and a current ratio of 1.63. nVent Electric has a 52-week low of $41.71 and a 52-week high of $129.94.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Saturday, February 7th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. nVent Electric’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Sell-side analysts forecast that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, April 24th. nVent Electric’s payout ratio is 19.53%.

Insider Activity at nVent Electric

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the sale, the director directly owned 13,405 shares in the company, valued at approximately $1,535,140.60. This trade represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Beth Wozniak sold 7,597 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the sale, the chief executive officer directly owned 52,990 shares of the company’s stock, valued at approximately $6,171,745.30. This represents a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,841 shares of company stock valued at $2,046,166 in the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of nVent Electric

A number of institutional investors have recently bought and sold shares of the stock. Global Trust Asset Management LLC purchased a new stake in nVent Electric during the 3rd quarter worth approximately $30,000. Root Financial Partners LLC purchased a new position in shares of nVent Electric in the third quarter worth $31,000. Manchester Capital Management LLC lifted its stake in shares of nVent Electric by 128.1% during the fourth quarter. Manchester Capital Management LLC now owns 308 shares of the company’s stock worth $31,000 after buying an additional 173 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of nVent Electric during the fourth quarter worth $32,000. Finally, Advisory Services Network LLC purchased a new stake in shares of nVent Electric during the third quarter valued at $35,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.