nVent Electric (NYSE:NVT) Price Target Lowered to $80.00 at Royal Bank of Canada

nVent Electric (NYSE:NVT) had its target price lowered by Royal Bank of Canada from $82.00 to $80.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Barclays reduced their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $85.33.

nVent Electric Price Performance

Shares of nVent Electric stock traded up $1.16 during mid-day trading on Monday, reaching $69.95. 344,799 shares of the stock were exchanged, compared to its average volume of 1,560,458. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. nVent Electric has a fifty-two week low of $49.08 and a fifty-two week high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $69.53 and a 200 day simple moving average of $73.10.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same period in the prior year, the firm posted $0.77 EPS. nVent Electric’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that nVent Electric will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is presently 22.29%.

Insider Transactions at nVent Electric

In related news, Director Herbert K. Parker purchased 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC grew its stake in shares of nVent Electric by 22.0% during the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after buying an additional 155 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after acquiring an additional 272 shares in the last quarter. Anchor Investment Management LLC grew its position in nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares during the last quarter. Sciencast Management LP boosted its stake in shares of nVent Electric by 7.1% during the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock valued at $332,000 after purchasing an additional 293 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in nVent Electric by 87.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after acquiring an additional 299 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

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.