nVent Electric (NYSE:NVT) Price Target Lowered to $70.00 at Barclays

nVent Electric (NYSE:NVT) had its price target reduced by Barclays from $75.00 to $70.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, March 17th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, KeyCorp cut their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, nVent Electric has an average rating of “Buy” and an average price target of $77.50.

nVent Electric Price Performance

Shares of NVT opened at $45.28 on Friday. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.48 and a beta of 1.21. The firm’s fifty day simple moving average is $59.82 and its 200-day simple moving average is $68.29. nVent Electric has a twelve month low of $41.90 and a twelve month high of $86.57. 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 (NYSE:NVT) last posted its quarterly 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 return on equity of 14.52% and a net margin of 10.09%. Equities analysts forecast that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. nVent Electric’s dividend payout ratio is presently 40.82%.

Hedge Funds Weigh In On nVent Electric

Several hedge funds have recently added to or reduced their stakes in the business. Crews Bank & Trust acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Capital A Wealth Management LLC purchased a new stake in nVent Electric in the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new stake in nVent Electric during the 4th quarter valued at $38,000. Tsfg LLC purchased a new position in nVent Electric during the fourth quarter worth $51,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after acquiring an additional 635 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

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.