nVent Electric (NYSE:NVT) Given New $60.00 Price Target at KeyCorp

nVent Electric (NYSE:NVT - Free Report) had its price objective decreased by KeyCorp from $75.00 to $60.00 in a report issued on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the company. Citigroup reduced their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Barclays reduced their target price on shares of nVent Electric from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a report on Monday, March 17th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group lowered their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $74.17.

nVent Electric Price Performance

NYSE NVT traded up $0.46 during trading hours on Tuesday, reaching $49.73. The company's stock had a trading volume of 2,799,535 shares, compared to its average volume of 1,880,114. nVent Electric has a 1 year low of $41.71 and a 1 year high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 1.48 and a beta of 1.21. The firm's 50-day moving average price is $57.63 and its 200-day moving average price is $67.28.

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nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting analysts' consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities research analysts predict that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, April 25th. nVent Electric's payout ratio is currently 40.82%.

Institutional Trading of nVent Electric

Several institutional investors and hedge funds have recently made changes to their positions in the business. Crews Bank & Trust purchased a new position in nVent Electric in the 4th quarter worth about $26,000. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC raised its stake in shares of nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of nVent Electric in the fourth quarter valued at approximately $38,000. Finally, Tsfg LLC bought a new position in nVent Electric in the fourth quarter worth approximately $51,000. 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.