nVent Electric (NYSE:NVT) Upgraded by CL King to “Buy” Rating

CL King upgraded shares of nVent Electric (NYSE:NVT) from a neutral rating to a buy rating in a research note released on Monday, Marketbeat reports. They currently have $70.00 price objective on the stock.

Other equities analysts have also issued reports about the company. Citigroup lowered their price target 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 price objective on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, Royal Bank of Canada upped their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $83.33.

nVent Electric Stock Performance

Shares of NVT stock opened at $56.72 on Monday. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric has a 1-year low of $51.99 and a 1-year high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $64.69 and its 200-day simple moving average is $69.31.

nVent Electric (NYSE:NVT) last announced its quarterly 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 return on equity of 14.52% and a net margin of 10.09%. On average, sell-side analysts predict that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. nVent Electric’s dividend payout ratio is presently 40.82%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in nVent Electric in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC boosted its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in nVent Electric in the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new stake in nVent Electric in the fourth quarter valued at approximately $38,000. Finally, Huntington National Bank boosted its position in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

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.