Barclays Reaffirms Hold Rating for nVent Electric (NYSE:NVT)

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nVent Electric (NYSE:NVT)‘s stock had its “hold” rating reiterated by equities researchers at Barclays in a research note issued on Friday, July 27th. They currently have a $25.00 price objective on the stock. Barclays’ price target would indicate a potential downside of 8.26% from the company’s previous close.

A number of other equities research analysts also recently weighed in on NVT. Oppenheimer assumed coverage on shares of nVent Electric in a report on Wednesday, May 2nd. They issued a “market perform” rating for the company. Susquehanna Bancshares began coverage on shares of nVent Electric in a report on Friday, May 18th. They issued a “positive” rating and a $30.00 price target for the company. Royal Bank of Canada began coverage on nVent Electric in a report on Thursday, May 10th. They set an “outperform” rating and a $29.00 price objective on the stock. Finally, KeyCorp began coverage on nVent Electric in a report on Tuesday, May 15th. They set an “overweight” rating and a $29.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.25.

NVT stock opened at $27.25 on Friday. nVent Electric has a fifty-two week low of $21.00 and a fifty-two week high of $29.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 2.12.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $542.70 million during the quarter, compared to analyst estimates of $542.50 million. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. research analysts anticipate that nVent Electric will post 1.76 EPS for the current fiscal year.

In other nVent Electric news, Director Trian Fund Management, L.P. bought 823,903 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were bought at an average price of $25.03 per share, for a total transaction of $20,622,292.09. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Randall J. Hogan sold 204,462 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $26.79, for a total value of $5,477,536.98. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently made changes to their positions in NVT. BlackRock Inc. bought a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $408,834,000. Iridian Asset Management LLC CT bought a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $162,582,000. Sound Shore Management Inc. CT bought a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $117,987,000. FMR LLC bought a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $59,492,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $59,477,000. 11.70% of the stock is owned by institutional investors and hedge funds.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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