nVent Electric (NYSE:NVT) Price Target Cut to $155.00 by Analysts at JPMorgan Chase & Co.

nVent Electric (NYSE:NVT) had its price target lowered by JPMorgan Chase & Co. from $167.00 to $155.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms also recently issued reports on NVT. Sanford C. Bernstein reiterated an “outperform” rating and issued a $233.00 price objective on shares of nVent Electric in a report on Monday, November 2nd. Zacks Research upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. Roth Capital reaffirmed a “buy” rating and issued a $200.00 target price on shares of nVent Electric in a research report on Wednesday, October 28th. Citigroup dropped their target price on nVent Electric from $228.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. Finally, Robert W. Baird boosted their price target on shares of nVent Electric from $188.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $197.12.

nVent Electric Price Performance

nVent Electric stock opened at $116.61 on Wednesday. The company’s 50 day simple moving average is $146.83 and its 200-day simple moving average is $144.54. The company has a market capitalization of $18.84 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 0.57 and a beta of 1.39. nVent Electric has a 1 year low of $93.22 and a 1 year high of $184.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, October 30th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. As a group, equities research analysts expect that nVent Electric will post 5.36 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, October 23rd. nVent Electric’s dividend payout ratio (DPR) is presently 20.24%.

Insider Transactions at nVent Electric

In related news, Director Herbert Parker bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average cost of $113.14 per share, for a total transaction of $339,420.00. Following the completion of the acquisition, the director owned 19,853 shares in the company, valued at approximately $2,246,168.42. This trade represents a 17.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVT. Advisors Asset Management Inc. purchased a new position in nVent Electric in the third quarter worth approximately $9,578,000. GW&K Investment Management LLC acquired a new stake in shares of nVent Electric in the 3rd quarter valued at $55,000. USS Investment Management Ltd raised its holdings in shares of nVent Electric by 26.3% in the 3rd quarter. USS Investment Management Ltd now owns 7,200 shares of the company’s stock valued at $1,155,000 after purchasing an additional 1,500 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of nVent Electric by 23.6% in the 3rd quarter. Private Advisor Group LLC now owns 11,486 shares of the company’s stock valued at $1,842,000 after purchasing an additional 2,190 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of nVent Electric by 14.1% during the 3rd quarter. Independent Advisor Alliance now owns 2,268 shares of the company’s stock worth $345,000 after purchasing an additional 281 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

About nVent Electric

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.