Citigroup Increases nVent Electric (NYSE:NVT) Price Target to $92.00

nVent Electric (NYSE:NVT) had its target price increased by Citigroup from $91.00 to $92.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 21.04% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday. Barclays upped their target price on nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada dropped their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

nVent Electric Trading Up 0.2 %

nVent Electric stock traded up $0.12 during trading on Monday, reaching $76.01. The company had a trading volume of 1,381,569 shares, compared to its average volume of 1,314,103. nVent Electric has a 12-month low of $40.22 and a 12-month high of $78.98. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The stock’s 50 day moving average price is $72.41 and its two-hundred day moving average price is $61.98. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.63 and a beta of 1.35.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. During the same period in the prior year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities analysts expect that nVent Electric will post 3.25 earnings per share for the current fiscal year.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the sale, the director now owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock valued at $25,713,777 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC grew its stake in shares of nVent Electric by 17.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after buying an additional 157 shares in the last quarter. HMS Capital Management LLC lifted its stake in shares of nVent Electric by 3.2% in the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after purchasing an additional 183 shares during the last quarter. Private Advisor Group LLC boosted its holdings in nVent Electric by 3.2% in the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after purchasing an additional 191 shares in the last quarter. State of Michigan Retirement System raised its holdings in nVent Electric by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after buying an additional 200 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds 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.