nVent Electric (NYSE:NVT) Hits New 1-Year High Following Analyst Upgrade

nVent Electric plc (NYSE:NVTGet Free Report) hit a new 52-week high on Wednesday after Barclays raised their price target on the stock from $74.00 to $85.00. Barclays currently has an overweight rating on the stock. nVent Electric traded as high as $76.42 and last traded at $76.25, with a volume of 174846 shares changing hands. The stock had previously closed at $75.20.

NVT has been the topic of a number of other research reports. Royal Bank of Canada boosted their target price on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Citigroup lifted their price target on nVent Electric from $59.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, nVent Electric presently has a consensus rating of “Moderate Buy” and an average price target of $76.20.

Read Our Latest Report on NVT

Insider Activity at nVent Electric

In other news, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric 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 transaction, the insider now directly owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 400,252 shares of company stock valued at $25,713,777. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Quent Capital LLC raised its holdings in nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares during the last quarter. HM Payson & Co. purchased a new stake in nVent Electric in the third quarter worth $26,000. Livelsberger Financial Advisory bought a new stake in nVent Electric during the fourth quarter worth about $28,000. Arlington Trust Co LLC purchased a new stake in shares of nVent Electric in the 3rd quarter worth approximately $30,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of nVent Electric in the second quarter worth $31,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

The firm has a market capitalization of $12.58 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 1.61 and a beta of 1.35. The business’s 50 day simple moving average is $67.07 and its two-hundred day simple moving average is $58.56. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVTGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The firm had revenue of $861.20 million for the quarter, compared to analysts’ expectations of $866.90 million. During the same quarter in the prior year, the business earned $0.66 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. Sell-side analysts anticipate that nVent Electric plc will post 3.24 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.00%. nVent Electric’s dividend payout ratio is currently 22.55%.

About nVent Electric

(Get Free Report)

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.

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