nVent Electric (NYSE:NVT) Stock Rating Upgraded by Seaport Res Ptn

nVent Electric (NYSE:NVT) was upgraded by investment analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

NVT has been the topic of a number of other research reports. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Citigroup dropped their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays reduced their target price on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Royal Bank of Canada upped their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $83.33.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $57.11 on Friday. The company has a market capitalization of $9.42 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company’s 50-day moving average is $63.63 and its 200 day moving average is $69.01. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric has a fifty-two week low of $51.99 and a fifty-two week high of $86.57.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. Capital Research Global Investors bought a new stake in shares of nVent Electric during the 4th quarter valued at about $384,749,000. State Street Corp grew its holdings in shares of nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after purchasing an additional 42,465 shares in the last quarter. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter worth approximately $197,434,000. Finally, Geode Capital Management LLC raised its stake in nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after purchasing an additional 29,794 shares in the last quarter. 90.05% of the stock is owned by 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.