KeyCorp Increases nVent Electric (NYSE:NVT) Price Target to $84.00

nVent Electric (NYSE:NVT) had its target price lifted by stock analysts at KeyCorp from $80.00 to $84.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price would suggest a potential upside of 14.49% from the company’s current price.

Several other brokerages have also issued reports on NVT. Royal Bank of Canada reduced their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $85.67.

nVent Electric Trading Down 2.3 %

Shares of nVent Electric stock opened at $73.37 on Monday. The stock has a market cap of $12.18 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.47 and a beta of 1.27. The stock’s 50 day simple moving average is $67.07 and its 200-day simple moving average is $73.23. nVent Electric has a 1-year low of $45.60 and a 1-year high of $86.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same period last year, the business earned $0.77 EPS. nVent Electric’s revenue was up 9.6% compared to the same quarter last year. Analysts predict that nVent Electric will post 3.26 EPS for the current fiscal year.

Insider Transactions at nVent Electric

In related news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after acquiring an additional 155 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after acquiring an additional 272 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after acquiring an additional 280 shares during the period. Sciencast Management LP raised its stake in shares of nVent Electric by 7.1% during the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock worth $332,000 after purchasing an additional 293 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of nVent Electric by 87.2% during the second quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after purchasing an additional 299 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

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.