nVent Electric (NYSE:NVT) Price Target Raised to $84.00 at KeyCorp

nVent Electric (NYSE:NVT) had its target price increased by KeyCorp from $80.00 to $84.00 in a research note published on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. Barclays lowered their price objective on shares of nVent Electric from $87.00 to $86.00 and set an overweight rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on shares of nVent Electric from $88.00 to $82.00 and set an outperform rating for the company in a report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $85.67.

nVent Electric Stock Up 3.1 %

Shares of NYSE:NVT opened at $75.13 on Monday. The stock’s 50-day moving average price is $66.82 and its 200-day moving average price is $73.25. nVent Electric has a 12-month low of $45.60 and a 12-month high of $86.57. The stock has a market capitalization of $12.47 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. On average, equities analysts anticipate that nVent Electric will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. nVent Electric’s payout ratio is 22.16%.

Insider Activity

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its position in nVent Electric by 16.5% in the 3rd quarter. Creative Planning now owns 23,191 shares of the company’s stock worth $1,629,000 after purchasing an additional 3,277 shares during the period. ORG Wealth Partners LLC bought a new stake in nVent Electric in the 3rd quarter worth approximately $29,000. Oliver Luxxe Assets LLC grew its position in nVent Electric by 29.1% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 74,252 shares of the company’s stock worth $5,217,000 after purchasing an additional 16,721 shares during the period. Exchange Traded Concepts LLC grew its position in nVent Electric by 18.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 185,801 shares of the company’s stock worth $13,054,000 after purchasing an additional 28,285 shares during the period. Finally, Carnegie Investment Counsel grew its position in nVent Electric by 24.8% in the 3rd quarter. Carnegie Investment Counsel now owns 90,071 shares of the company’s stock worth $6,328,000 after purchasing an additional 17,879 shares during the period. Institutional investors own 90.05% of the company’s stock.

About nVent Electric

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.