nVent Electric (NYSE:NVT – Get Rating) had its price target lowered by equities research analysts at Barclays from $44.00 to $43.00 in a research report issued on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. Barclays’s objective price would indicate a potential upside of 37.16% from the stock’s previous close.
Separately, The Goldman Sachs Group cut their target price on nVent Electric from $43.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Five analysts have rated the stock with a buy rating, according to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $41.60.
NVT opened at $31.35 on Friday. nVent Electric has a twelve month low of $28.27 and a twelve month high of $39.53. The firm has a market capitalization of $5.22 billion, a PE ratio of 19.35 and a beta of 1.43. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $33.53 and its 200 day moving average price is $34.57.
nVent Electric (NYSE:NVT – Get Rating) last issued its earnings results on Friday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. nVent Electric had a return on equity of 13.68% and a net margin of 10.56%. The business had revenue of $694.70 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same period in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, analysts predict that nVent Electric will post 2.22 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Signaturefd LLC grew its holdings in shares of nVent Electric by 41.1% during the 4th quarter. Signaturefd LLC now owns 1,955 shares of the company’s stock worth $74,000 after purchasing an additional 569 during the period. AdvisorNet Financial Inc lifted its position in nVent Electric by 39.9% in the first quarter. AdvisorNet Financial Inc now owns 2,186 shares of the company’s shares valued at $76,000 after buying an additional 624 during the last quarter. Quadrant Capital Group LLC lifted its position in nVent Electric by 92.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock valued at $82,000 after buying an additional 1,045 shares during the last quarter. Bank of New Hampshire acquired a new stake in shares of nVent Electric during the first quarter valued at about $88,000. Finally, Lazard Asset Management LLC raised its stake in shares of nVent Electric by 37.8% in the 4th quarter. Lazard Asset Management LLC now owns 3,900 shares of the company’s stock valued at $148,000 after acquiring an additional 1,070 shares during the period. Institutional investors own 88.44% of the company’s stock.
About nVent Electric (Get Rating)
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.
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