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

nVent Electric (NYSE:NVT) had its target price decreased by research analysts at KeyCorp from $84.00 to $75.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 41.03% from the stock’s current price.

A number of other brokerages have also recently commented on NVT. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Barclays dropped their price objective on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $80.50.

nVent Electric Stock Down 2.6 %

nVent Electric stock traded down $1.41 during midday trading on Friday, reaching $53.18. The stock had a trading volume of 132,816 shares, compared to its average volume of 1,754,078. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric has a 12 month low of $51.99 and a 12 month high of $86.57. The company has a fifty day moving average price of $62.58 and a two-hundred day moving average price of $68.82. The company has a market capitalization of $8.78 billion, a P/E ratio of 27.12, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, equities analysts expect that nVent Electric will post 3.04 EPS for the current fiscal year.

Hedge Funds Weigh In On nVent Electric

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of nVent Electric by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock worth $72,752,000 after buying an additional 3,599 shares during the period. Citigroup Inc. grew its position in nVent Electric by 3.3% during the 3rd quarter. Citigroup Inc. now owns 62,044 shares of the company’s stock worth $4,359,000 after acquiring an additional 1,959 shares during the last quarter. Cerity Partners LLC increased its stake in nVent Electric by 145.7% in the 3rd quarter. Cerity Partners LLC now owns 45,248 shares of the company’s stock worth $3,179,000 after purchasing an additional 26,832 shares during the period. Larson Financial Group LLC lifted its position in nVent Electric by 91.9% in the third 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. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of nVent Electric by 8.2% during the third quarter. The Manufacturers Life Insurance Company now owns 212,096 shares of the company’s stock valued at $14,902,000 after purchasing an additional 16,154 shares during the period. Hedge funds and other 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.