nVent Electric (NYSE:NVT) Price Target Cut to $90.00 by Analysts at Citigroup

nVent Electric (NYSE:NVT - Get Free Report) had its price target lowered by Citigroup from $91.00 to $90.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 30.81% from the stock's previous close.

Other analysts have also issued reports about the stock. KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Barclays boosted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada lifted their target price on nVent Electric from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and an average price target of $86.17.

nVent Electric Stock Down 0.1 %

Shares of nVent Electric stock traded down $0.06 during trading on Monday, hitting $68.80. The company's stock had a trading volume of 1,065,499 shares, compared to its average volume of 1,139,157. The company has a market capitalization of $11.34 billion, a PE ratio of 20.18, a P/E/G ratio of 3.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric has a 52 week low of $55.19 and a 52 week high of $86.57. The company has a fifty day simple moving average of $73.55 and a two-hundred day simple moving average of $71.37.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period last year, the business earned $0.84 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that nVent Electric will post 2.5 earnings per share for the current year.

Insider Activity

In related news, Director Jerry W. Burris sold 6,558 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares of the company's stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company's stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 in the last 90 days. Company insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVT. Geode Capital Management LLC raised its position in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock valued at $194,894,000 after buying an additional 29,794 shares in the last quarter. Nordea Investment Management AB grew its holdings in nVent Electric by 16.9% during the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock valued at $6,378,000 after purchasing an additional 13,483 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of nVent Electric by 101.2% in the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company's stock worth $27,484,000 after buying an additional 180,488 shares during the period. LVM Capital Management Ltd. MI boosted its position in nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company's stock valued at $10,307,000 after buying an additional 11,349 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of nVent Electric in the fourth quarter valued at approximately $1,520,000. 90.05% of the stock is currently owned by institutional investors.

About nVent Electric

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.