nVent Electric (NYSE:NVT) Price Target Lowered to $83.00 at Barclays

nVent Electric (NYSE:NVT) had its target price reduced by Barclays from $88.00 to $83.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also commented on NVT. Royal Bank of Canada boosted their price target 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 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $85.50.

nVent Electric Price Performance

NYSE:NVT opened at $56.31 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The company has a 50 day moving average price of $67.49 and a 200-day moving average price of $70.06. nVent Electric has a 1-year low of $55.69 and a 1-year high of $86.57.

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

nVent Electric Announces Dividend

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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Institutional Investors Weigh In On nVent Electric

A number of large investors have recently modified their holdings of the business. Quadrant Capital Group LLC grew its holdings in shares of nVent Electric by 4.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after buying an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after acquiring an additional 162 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after acquiring an additional 166 shares during the last quarter. Calamos Advisors LLC boosted its position in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after acquiring an additional 176 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors 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.