nVent Electric (NYSE:NVT – Get Rating) had its price objective lowered by investment analysts at The Goldman Sachs Group from $43.00 to $38.00 in a report issued on Thursday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 23.70% from the stock’s previous close.
Separately, Barclays lowered their price target on nVent Electric from $48.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 24th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $41.80.
Shares of NVT stock traded down $0.61 during mid-day trading on Thursday, hitting $30.72. 9,447 shares of the stock traded hands, compared to its average volume of 680,894. nVent Electric has a twelve month low of $28.27 and a twelve month high of $39.53. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 18.96 and a beta of 1.43. The company’s 50-day simple moving average is $34.36 and its 200-day simple moving average is $35.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.64.
In related news, Director Ronald Merriman sold 3,947 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $35.17, for a total value of $138,815.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in shares of nVent Electric by 41.1% during the 4th quarter. Signaturefd LLC now owns 1,955 shares of the company’s stock valued at $74,000 after acquiring an additional 569 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of nVent Electric by 39.9% during the 1st quarter. AdvisorNet Financial Inc now owns 2,186 shares of the company’s stock valued at $76,000 after acquiring an additional 624 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of nVent Electric by 92.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock valued at $82,000 after buying an additional 1,045 shares in the last quarter. Bank of New Hampshire bought a new stake in shares of nVent Electric in the 1st quarter valued at $88,000. Finally, Lazard Asset Management LLC increased its position in shares of nVent Electric by 37.8% in the 4th quarter. Lazard Asset Management LLC now owns 3,900 shares of the company’s stock valued at $148,000 after buying an additional 1,070 shares in the last quarter. Institutional investors own 88.44% of the company’s stock.
About nVent Electric (Get Rating)
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.
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