nVent Electric (NYSE:NVT) Upgraded at CL King

CL King upgraded shares of nVent Electric (NYSE:NVT - Free Report) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat.com reports. They currently have $70.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Finally, Royal Bank of Canada lifted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $83.33.

nVent Electric Trading Up 0.4 %

Shares of nVent Electric stock traded up $0.25 during trading hours on Monday, reaching $57.11. 3,766,765 shares of the company's stock were exchanged, compared to its average volume of 1,749,066. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric has a 52-week low of $51.99 and a 52-week high of $86.57. The company has a fifty day moving average of $63.87 and a 200-day moving average of $69.05.

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

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

Institutional Investors Weigh In On nVent Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock valued at $6,378,000 after acquiring an additional 13,483 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 purchasing an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in nVent Electric during the 4th quarter worth approximately $1,520,000. TT International Asset Management LTD raised its position in shares of nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI boosted its stake in shares of nVent Electric by 8.1% during 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 last quarter. Hedge funds and other institutional investors 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.