CL King Upgrades nVent Electric (NYSE:NVT) to Buy

nVent Electric (NYSE:NVT) was upgraded by research analysts at CL King from a “neutral” rating to a “buy” rating in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $70.00 price objective on the stock. CL King’s target price would indicate a potential upside of 26.21% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Citigroup dropped their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $83.33.

nVent Electric Trading Down 2.2 %

NYSE:NVT opened at $55.46 on Monday. 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 12 month low of $51.99 and a 12 month high of $86.57. The company has a market cap of $9.15 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a 50 day simple moving average of $64.39 and a two-hundred day simple moving average of $69.22.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Research analysts forecast that nVent Electric will post 3.04 earnings per share for the current year.

Institutional Trading of nVent Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in nVent Electric by 8.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,732 shares of the company’s stock worth $2,299,000 after purchasing an additional 2,759 shares during the period. Siemens Fonds Invest GmbH purchased a new position in shares of nVent Electric during the fourth quarter worth approximately $75,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric during the fourth quarter worth approximately $38,000. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric during the fourth quarter worth approximately $27,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of nVent Electric by 145.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock worth $99,961,000 after acquiring an additional 869,906 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

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.