The Goldman Sachs Group Has Lowered Expectations for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price target decreased by The Goldman Sachs Group from $86.00 to $74.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 34.94% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Barclays lowered their price target on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Finally, Citigroup reduced their price objective 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $78.33.

nVent Electric Trading Up 3.0 %

nVent Electric stock traded up $1.62 during trading on Wednesday, reaching $54.84. 572,760 shares of the company were exchanged, compared to its average volume of 1,812,305. The stock’s 50 day simple moving average is $61.36 and its two-hundred day simple moving average is $68.66. The company has a market capitalization of $9.05 billion, a P/E ratio of 27.98, a PEG ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric has a 52-week low of $50.14 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

Institutional Trading of nVent Electric

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC increased its stake in nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after buying an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the period. Calamos Advisors LLC raised its stake in shares of nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after acquiring an additional 176 shares in the last quarter. Utah Retirement Systems boosted its holdings in nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after purchasing an additional 200 shares during the period. Finally, Hancock Whitney Corp grew its stake in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after purchasing an additional 206 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

About nVent Electric

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.