nVent Electric (NYSE:NVT) Given New $74.00 Price Target at The Goldman Sachs Group

nVent Electric (NYSE:NVT) had its price objective cut by The Goldman Sachs Group from $86.00 to $74.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently commented on the stock. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, March 17th. Barclays dropped their price objective on nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup cut their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $78.33.

nVent Electric Price Performance

NVT stock opened at $55.04 on Wednesday. The stock has a market cap of $9.08 billion, a PE ratio of 28.08, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric has a 12 month low of $50.14 and a 12 month high of $86.57. The company has a 50-day moving average price of $60.95 and a 200 day moving average price of $68.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

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

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is presently 40.82%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new position in shares of nVent Electric in the 4th quarter valued at approximately $26,000. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric in the fourth quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric during the fourth quarter worth $38,000. Tsfg LLC purchased a new stake in shares of nVent Electric during the fourth quarter valued at $51,000. Finally, Raleigh Capital Management Inc. increased its position in shares of nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after acquiring an additional 635 shares during the period. 90.05% of the stock is 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.