nVent Electric (NYSE:NVT) Given New $84.00 Price Target at KeyCorp

nVent Electric (NYSE:NVT) had its price target increased by equities research analysts at KeyCorp from $80.00 to $84.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 15.27% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Barclays lowered their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $85.67.

nVent Electric Stock Performance

Shares of NVT opened at $72.87 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The firm’s 50 day moving average is $66.57 and its 200-day moving average is $73.25. nVent Electric has a 12-month low of $45.60 and a 12-month high of $86.57. The stock has a market capitalization of $12.10 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.47 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its quarterly 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 company 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%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. Equities research analysts anticipate that nVent Electric will post 3.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Herbert K. Parker acquired 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is owned by insiders.

Institutional Trading of nVent Electric

Hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after acquiring an additional 155 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in nVent Electric by 15.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after purchasing an additional 272 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of nVent Electric by 94.0% in the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after purchasing an additional 280 shares during the period. Sciencast Management LP raised its holdings in shares of nVent Electric by 7.1% in the 1st quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock worth $332,000 after buying an additional 293 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in shares of nVent Electric by 87.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after buying an additional 299 shares during the period. Institutional investors own 90.05% of the company’s stock.

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.