nVent Electric (NYSE:NVT) Price Target Cut to $83.00 by Analysts at Barclays

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

NVT has been the subject of several other research reports. Royal Bank of Canada boosted their price target 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. Citigroup reduced their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.50.

nVent Electric Stock Performance

NVT stock opened at $56.03 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 company has a 50 day moving average price of $66.92 and a 200 day moving average price of $69.89. nVent Electric has a fifty-two week low of $53.30 and a fifty-two week high of $86.57. The stock has a market capitalization of $9.25 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share 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%. Analysts forecast that nVent Electric will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company 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 $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. nVent Electric’s payout ratio is 40.82%.

Institutional Investors Weigh In On nVent Electric

A number of institutional investors and hedge funds have recently modified their holdings of NVT. Larson Financial Group LLC raised its holdings in nVent Electric by 91.9% in 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 period. Crews Bank & Trust acquired a new position in shares of nVent Electric during the 4th quarter worth approximately $26,000. Capital A Wealth Management LLC acquired a new position in shares of nVent Electric during the 4th quarter worth approximately $27,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric during the 4th quarter worth approximately $38,000. Finally, Huntington National Bank boosted its position in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring 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.