By otakuyassine3@gmail.com 
nVent Electric (NYSE:NVT – Get Free Report) had its target price reduced by investment analysts at Citigroup from $85.00 to $59.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 16.68% from the stock’s previous close.
Several other equities analysts have also commented on the stock. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. The Goldman Sachs Group dropped their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, KeyCorp decreased their price target on nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $69.00.
Read Our Latest Report on nVent Electric
nVent Electric Trading Up 1.2 %
Shares of NVT stock opened at $50.57 on Monday. The business has a 50-day moving average price of $57.06 and a two-hundred day moving average price of $66.99. nVent Electric has a 12-month low of $41.71 and a 12-month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market cap of $8.33 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.
nVent Electric (NYSE:NVT – Get Free Report) last released its 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%. Equities analysts anticipate that nVent Electric will post 3.04 EPS for the current fiscal year.
Institutional Investors Weigh In On nVent Electric
Several institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its holdings in nVent Electric by 4.1% in 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 during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after purchasing an additional 176 shares during the period. Utah Retirement Systems boosted its position in shares of nVent Electric by 2.3% during the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after purchasing an additional 200 shares in the last quarter. Finally, Hancock Whitney Corp grew its stake in nVent Electric by 1.4% in the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after purchasing an additional 206 shares during the period. 90.05% of the stock is owned by hedge funds and other 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.
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