KeyCorp Issues Pessimistic Forecast for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price target lowered by KeyCorp from $84.00 to $75.00 in a research note issued to investors on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Citigroup dropped their target price 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. Royal Bank of Canada raised their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Barclays dropped their price target on nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $80.50.

nVent Electric Price Performance

NVT opened at $52.89 on Friday. The stock has a market cap of $8.73 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric has a 12 month low of $51.99 and a 12 month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $62.19 and a 200 day simple moving average of $68.84.

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

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.51%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Hedge Funds Weigh In On nVent Electric

Several hedge funds have recently modified their holdings of the stock. Crews Bank & Trust bought a new stake in nVent Electric during the fourth quarter worth about $26,000. Larson Financial Group LLC raised its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric in the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric in the 4th quarter valued at approximately $38,000. Finally, Brooklyn Investment Group bought a new position in shares of nVent Electric in the third quarter valued at $44,000. 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.