nVent Electric (NYSE:NVT) Price Target Lowered to $70.00 at Barclays

nVent Electric (NYSE:NVT - Free Report) had its target price reduced by Barclays from $75.00 to $70.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also issued reports on the company. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. The Goldman Sachs Group cut their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, nVent Electric presently has an average rating of "Buy" and a consensus price target of $75.00.

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nVent Electric Stock Up 10.1 %

Shares of NYSE:NVT traded up $4.56 during midday trading on Friday, hitting $49.76. 908,420 shares of the company's stock traded hands, compared to its average volume of 1,863,151. The firm's fifty day moving average price is $58.73 and its two-hundred day moving average price is $67.79. The company has a market cap of $8.21 billion, a PE ratio of 25.22, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric has a twelve month low of $41.71 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.59 EPS 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 anticipate that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

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

Hedge Funds Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently modified their holdings of NVT. Quadrant Capital Group LLC boosted its stake in nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after purchasing an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after buying an additional 162 shares during the period. Calamos Advisors LLC grew its holdings in nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after buying an additional 176 shares in the last quarter. Utah Retirement Systems raised its stake in nVent Electric by 2.3% during the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after acquiring an additional 200 shares in the last quarter. Finally, Hancock Whitney Corp grew its stake in shares of nVent Electric by 1.4% in the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock worth $1,025,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Company Profile

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.