nVent Electric (NYSE:NVT) Price Target Lowered to $75.00 at Barclays

nVent Electric (NYSE:NVT) had its target price trimmed by Barclays from $83.00 to $75.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on NVT. Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. 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 research report on Monday, March 17th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $82.00.

nVent Electric Trading Down 4.4 %

NYSE:NVT opened at $55.87 on Wednesday. nVent Electric has a 12-month low of $51.99 and a 12-month 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 50 day simple moving average is $62.92 and its 200-day simple moving average is $68.92. The firm has a market cap of $9.22 billion, a P/E ratio of 28.50, a PEG ratio of 1.48 and a beta of 1.31.

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

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Investors Weigh In On nVent Electric

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of nVent Electric by 8.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,732 shares of the company’s stock valued at $2,299,000 after purchasing an additional 2,759 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in nVent Electric in the 4th quarter valued at approximately $75,000. Park Square Financial Group LLC purchased a new position in nVent Electric during the fourth quarter worth $38,000. Capital A Wealth Management LLC purchased a new position in nVent Electric during the fourth quarter worth $27,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of nVent Electric by 145.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock worth $99,961,000 after acquiring an additional 869,906 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

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.