nVent Electric (NYSE:NVT) Price Target Cut to $38.00 by Analysts at The Goldman Sachs Group

nVent Electric (NYSE:NVTGet 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.

nVent Electric (NYSE:NVTGet Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $694.70 million during the quarter, compared to analysts’ expectations of $627.83 million. nVent Electric had a return on equity of 13.68% and a net margin of 10.56%. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. Analysts forecast that nVent Electric will post 2.22 earnings per share for the current year.

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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