nVent Electric (NYSE:NVT) Stock Bumped Up to Strong-Buy by Zacks Research

nVent Electric (NYSE:NVT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other research firms have also weighed in on NVT. Evercore reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of nVent Electric in a research note on Monday, August 3rd. Weiss Ratings cut nVent Electric from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Wall Street Zen downgraded nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. BMO Capital Markets began coverage on shares of nVent Electric in a report on Sunday, October 4th. They issued an “outperform” rating and a $212.00 target price for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 target price on shares of nVent Electric in a report on Saturday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $197.82.

nVent Electric Stock Performance

NYSE NVT opened at $129.28 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $20.89 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 0.64 and a beta of 1.39. The firm’s 50 day simple moving average is $151.83 and its 200 day simple moving average is $144.56. nVent Electric has a 1 year low of $93.22 and a 1 year high of $184.64.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, October 30th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue was up 43.7% on a year-over-year basis. As a group, research analysts expect that nVent Electric will post 5.39 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robert van der Kolk sold 5,858 shares of nVent Electric stock in a transaction on Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the transaction, the insider owned 27,387 shares in the company, valued at approximately $4,500,231.84. The trade was a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently bought and sold shares of NVT. Sequoia Financial Advisors LLC lifted its holdings in shares of nVent Electric by 16.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,540 shares of the company’s stock worth $12,982,000 after purchasing an additional 11,033 shares in the last quarter. State Street Corp grew its position in nVent Electric by 4.9% in the 2nd quarter. State Street Corp now owns 5,313,122 shares of the company’s stock valued at $901,159,000 after purchasing an additional 250,248 shares during the period. Alua Capital Management LP acquired a new stake in nVent Electric in the 1st quarter valued at $27,394,000. Engineers Gate Manager LP grew its position in nVent Electric by 327.1% in the 2nd quarter. Engineers Gate Manager LP now owns 33,538 shares of the company’s stock valued at $5,688,000 after purchasing an additional 25,686 shares during the period. Finally, Moore Capital Management LP bought a new stake in nVent Electric during the 2nd quarter valued at $4,099,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

About nVent Electric

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.