nVent Electric (NYSE:NVT) Upgraded at CL King

CL King upgraded shares of nVent Electric (NYSE:NVT) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat reports. They currently have $70.00 target price on the stock.

Several other equities research analysts also recently weighed in on NVT. Citigroup lowered their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays lowered their target price on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $83.33.

nVent Electric Trading Up 2.5 %

NYSE NVT opened at $56.87 on Monday. nVent Electric has a one year low of $51.99 and a one year high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company’s 50-day simple moving average is $64.13 and its two-hundred day simple moving average is $69.14.

nVent Electric (NYSE:NVT) last issued 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 forecast that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed 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. 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 1.41%. nVent Electric’s payout ratio is 40.82%.

Hedge Funds Weigh In On nVent Electric

Several large investors have recently made changes to their positions in NVT. Wealth Enhancement Advisory Services LLC increased its holdings in 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 buying an additional 2,759 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of nVent Electric during the 4th quarter worth about $75,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric during the 4th quarter valued at about $38,000. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric in the 4th quarter valued at about $27,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of nVent Electric by 145.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock valued at $99,961,000 after purchasing an additional 869,906 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.