nVent Electric (NYSE:NVT) Given New $75.00 Price Target at KeyCorp

nVent Electric (NYSE:NVT) had its price target cut by KeyCorp from $84.00 to $75.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

NVT has been the topic of a number of other research reports. Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays lowered their price objective on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Finally, Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average price target of $80.50.

nVent Electric Stock Performance

NYSE NVT opened at $52.89 on Friday. The firm’s 50 day simple moving average is $62.19 and its 200 day simple moving average is $68.76. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 1.48 and a beta of 1.31. 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 has a 1 year low of $51.99 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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%. As a group, research analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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 issued 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 1.51%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in shares of nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of nVent Electric in the fourth quarter worth approximately $384,749,000. State Street Corp boosted its holdings in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares during the last quarter. Norges Bank acquired a new stake in nVent Electric during the 4th quarter valued at approximately $197,434,000. Finally, Geode Capital Management LLC increased its position in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after purchasing an additional 29,794 shares during the period. 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.