nVent Electric (NYSE:NVT) Price Target Raised to $152.00

nVent Electric (NYSE:NVT) had its target price upped by Citigroup from $133.00 to $152.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings raised shares of nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, March 11th. Royal Bank Of Canada lifted their price objective on shares of nVent Electric from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. UBS Group reaffirmed a “buy” rating and issued a $135.00 price objective on shares of nVent Electric in a report on Friday, March 13th. Roth Mkm lifted their price objective on shares of nVent Electric from $130.00 to $135.00 and gave the company a “buy” rating in a report on Monday, March 23rd. Finally, KeyCorp lifted their price objective on shares of nVent Electric from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.00.

nVent Electric Price Performance

Shares of NVT opened at $131.48 on Monday. The company has a market cap of $21.26 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28. nVent Electric has a twelve month low of $47.86 and a twelve month high of $135.92. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $117.59 and a two-hundred day moving average of $109.67.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Saturday, February 7th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 41.9% compared to the same quarter last year. As a group, analysts predict that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, April 24th. nVent Electric’s dividend payout ratio is currently 19.53%.

Insider Activity

In other news, Director Jerry W. Burris sold 5,244 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the sale, the director owned 46,371 shares of the company’s stock, valued at $5,206,072.17. This represents a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Beth Wozniak sold 7,597 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total transaction of $884,822.59. Following the completion of the sale, the chief executive officer directly owned 52,990 shares of the company’s stock, valued at approximately $6,171,745.30. This trade represents a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,841 shares of company stock valued at $2,046,166 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On nVent Electric

Several large investors have recently made changes to their positions in the stock. Galaxy Digital Capital Management GP LLC acquired a new position in shares of nVent Electric in the 4th quarter worth approximately $912,000. Hsbc Holdings PLC acquired a new stake in nVent Electric during the 4th quarter worth approximately $5,298,000. World Investment Advisors lifted its holdings in nVent Electric by 8.6% during the 4th quarter. World Investment Advisors now owns 4,687 shares of the company’s stock worth $478,000 after buying an additional 371 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in nVent Electric during the 4th quarter worth approximately $45,000. Finally, Pacer Advisors Inc. lifted its holdings in nVent Electric by 32.4% during the 4th quarter. Pacer Advisors Inc. now owns 40,416 shares of the company’s stock worth $4,121,000 after buying an additional 9,881 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.