The Goldman Sachs Group Has Lowered Expectations for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT - Get Free Report) had its price target lowered by equities research analysts at The Goldman Sachs Group from $86.00 to $74.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 60.24% from the stock's previous close.

NVT has been the subject of a number of other reports. Royal Bank of Canada increased their target price 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. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a report on Monday, March 17th. Barclays decreased their price objective on shares of nVent Electric from $83.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Finally, KeyCorp cut their target price on shares of nVent Electric from $84.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, nVent Electric has a consensus rating of "Buy" and a consensus target price of $77.50.

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nVent Electric Trading Up 2.1 %

Shares of NYSE NVT traded up $0.94 during midday trading on Wednesday, reaching $46.18. The company had a trading volume of 4,169,509 shares, compared to its average volume of 1,859,526. The firm's fifty day moving average price is $59.82 and its 200-day moving average price is $68.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric has a one year low of $41.90 and a one year high of $86.57. The stock has a market cap of $7.62 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. Capital Research Global Investors purchased a new stake in nVent Electric during the fourth quarter valued at $384,749,000. State Street Corp boosted its position in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company's stock worth $353,522,000 after purchasing an additional 42,465 shares during the last quarter. Norges Bank purchased a new position in nVent Electric in the fourth quarter worth about $197,434,000. Finally, Geode Capital Management LLC grew its stake 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 purchasing an additional 29,794 shares during the period. Institutional investors own 90.05% of the company's stock.

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.