nVent Electric (NYSE:NVT) Price Target Raised to $190.00

nVent Electric (NYSE:NVT) had its price target increased by Wells Fargo & Company from $182.00 to $190.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research analysts have also issued reports on NVT. UBS Group reiterated a “buy” rating on shares of nVent Electric in a research note on Tuesday, August 25th. Royal Bank Of Canada boosted their price objective on shares of nVent Electric from $200.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 14th. BMO Capital Markets started coverage on shares of nVent Electric in a report on Sunday, October 4th. They issued an “outperform” rating and a $212.00 price objective on the stock. Citigroup upped their price objective on shares of nVent Electric from $215.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Finally, Robert W. Baird raised their target price on shares of nVent Electric from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $197.82.

nVent Electric Price Performance

NVT opened at $112.18 on Monday. The stock has a fifty day simple moving average of $151.04 and a two-hundred day simple moving average of $144.58. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 0.65 and a beta of 1.39. nVent Electric has a 12-month low of $93.22 and a 12-month high of $184.64.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, October 30th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.40 by $0.12. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 43.7% on a year-over-year basis. Research analysts predict that nVent Electric will post 5.36 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.84 annualized dividend and a yield of 0.7%. nVent Electric’s payout ratio is 20.24%.

Insider Transactions at nVent Electric

In other news, insider Robert van der Kolk sold 5,858 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $164.32, for a total value of $962,586.56. Following the transaction, the insider owned 27,387 shares in the company, valued at approximately $4,500,231.84. This represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors have recently made changes to their positions in NVT. Livelsberger Financial Advisory purchased a new position in nVent Electric during the third quarter valued at approximately $28,000. Provenance Wealth Advisors LLC bought a new position in shares of nVent Electric in the third quarter worth approximately $36,000. Elevation Wealth Partners LLC boosted its position in shares of nVent Electric by 554.5% in the second quarter. Elevation Wealth Partners LLC now owns 216 shares of the company’s stock worth $37,000 after purchasing an additional 183 shares during the period. MCF Advisors LLC increased its stake in shares of nVent Electric by 236.1% in the second quarter. MCF Advisors LLC now owns 242 shares of the company’s stock worth $41,000 after purchasing an additional 170 shares in the last quarter. Finally, Financial Consulate Inc. increased its stake in shares of nVent Electric by 1,431.2% in the second quarter. Financial Consulate Inc. now owns 245 shares of the company’s stock worth $42,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Company Profile

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.