Royal Bank of Canada Issues Positive Forecast for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price objective boosted by research analysts at Royal Bank of Canada from $80.00 to $85.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 21.93% from the company’s current price.

A number of other equities analysts also recently commented on NVT. Citigroup lifted their price target on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays boosted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $86.33.

nVent Electric Trading Up 1.8 %

NYSE NVT traded up $1.25 during trading hours on Friday, hitting $69.71. 264,607 shares of the company’s stock were exchanged, compared to its average volume of 562,673. nVent Electric has a 12-month low of $55.19 and a 12-month high of $86.57. The business’s 50 day moving average is $73.93 and its 200-day moving average is $71.81. The firm has a market capitalization of $11.49 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 3.86 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. As a group, analysts anticipate that nVent Electric will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On nVent Electric

Several hedge funds have recently modified their holdings of NVT. Larson Financial Group LLC lifted its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. grew its position in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric during the third quarter worth $29,000. First Foundation Advisors bought a new position in shares of nVent Electric in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in nVent Electric during the 2nd quarter worth about $34,000. 90.05% of the stock is owned by institutional investors.

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.