Barclays Has Lowered Expectations for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its target price reduced by stock analysts at Barclays from $70.00 to $65.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 30.72% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. KeyCorp dropped their price target on nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Citigroup reduced their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $74.17.

nVent Electric Stock Up 0.9 %

Shares of NYSE NVT opened at $49.73 on Thursday. The firm has a fifty day simple moving average of $57.63 and a two-hundred day simple moving average of $67.28. nVent Electric has a 12 month low of $41.71 and a 12 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. The firm has a market capitalization of $8.21 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting 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 expect that nVent Electric will post 3.04 earnings per share for the current year.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC increased its holdings in nVent Electric by 4.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after buying an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the period. Calamos Advisors LLC raised its holdings in shares of nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after purchasing an additional 176 shares during the last quarter. Utah Retirement Systems lifted its position in nVent Electric by 2.3% during the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after purchasing an additional 200 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in nVent Electric by 1.4% in the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

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.