Shares of nVent Electric plc (NYSE:NVT – Get Free Report) have been assigned an average rating of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $86.50.
A number of research firms recently commented on NVT. Barclays lifted their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Wednesday. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.
Get Our Latest Research Report on nVent Electric
Insider Activity at nVent Electric
Hedge Funds Weigh In On nVent Electric
A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter valued at approximately $109,630,000. Balyasny Asset Management L.P. grew its holdings in nVent Electric by 201.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock valued at $82,802,000 after purchasing an additional 937,149 shares during the period. Schroder Investment Management Group bought a new position in nVent Electric during the fourth quarter valued at $51,781,000. Millennium Management LLC boosted its holdings in shares of nVent Electric by 159.9% in the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after acquiring an additional 828,425 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after purchasing an additional 673,990 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.
nVent Electric Price Performance
NVT stock opened at $61.63 on Wednesday. nVent Electric has a 52-week low of $45.60 and a 52-week high of $86.57. The stock’s fifty day simple moving average is $69.63 and its 200-day simple moving average is $73.34. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.30 and a beta of 1.27.
nVent Electric (NYSE:NVT – Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. nVent Electric’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. Equities research analysts expect that nVent Electric will post 3.26 EPS for the current year.
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.
Read More
- Five stocks we like better than nVent Electric
- How to Calculate Options Profits
- Does GTA VI Make Take-Two Interactive Stock an Irresistible Buy?
- What is the S&P/TSX Index?
- Why HPE’s Dip Is a Prime Opportunity for Blue-Chip AI Investors
- Earnings Per Share Calculator: How to Calculate EPS
- Why Analysts See Big Upside for Occidental Petroleum Despite Lows
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.