nVent Electric (NYSE:NVT) Raised to Strong-Buy at Seaport Res Ptn

nVent Electric (NYSE:NVT) was upgraded by stock analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company 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 price objective for the company in a report on Monday, March 17th. Barclays lowered their target price on 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 upped their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus target price of $83.33.

nVent Electric Trading Up 0.4 %

Shares of nVent Electric stock opened at $57.11 on Friday. The firm’s 50 day moving average is $63.63 and its 200 day moving average is $69.01. The firm has a market capitalization of $9.42 billion, a PE ratio of 29.14, a price-to-earnings-growth 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.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Equities research analysts forecast that nVent Electric will post 3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On nVent Electric

A number of hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise boosted its position in shares of nVent Electric by 152.3% during the third quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company’s stock valued at $114,000 after buying an additional 978 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in nVent Electric during the 3rd quarter worth $2,877,000. Advisors Asset Management Inc. boosted its holdings in nVent Electric by 5.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock worth $432,000 after acquiring an additional 301 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of nVent Electric by 137.1% in the 3rd quarter. Intech Investment Management LLC now owns 51,904 shares of the company’s stock worth $3,647,000 after acquiring an additional 30,017 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of nVent Electric by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock valued at $72,752,000 after purchasing an additional 3,599 shares during 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.