nVent Electric (NYSE:NVT) Given New $87.00 Price Target at The Goldman Sachs Group

nVent Electric (NYSE:NVT) had its price target upped by The Goldman Sachs Group from $77.00 to $87.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Barclays increased their target price on nVent Electric from $74.00 to $85.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Citigroup increased their target price on nVent Electric from $71.00 to $91.00 and gave the stock a buy rating in a research note on Monday, April 8th. Royal Bank of Canada increased their target price on nVent Electric from $65.00 to $72.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They issued a buy rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, nVent Electric currently has a consensus rating of Moderate Buy and a consensus target price of $87.00.

nVent Electric Price Performance

Shares of NYSE NVT opened at $76.38 on Monday. The company has a 50 day simple moving average of $72.62 and a two-hundred day simple moving average of $62.17. nVent Electric has a fifty-two week low of $40.22 and a fifty-two week high of $78.98. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same quarter last year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts expect that nVent Electric will post 3.25 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Activity at nVent Electric

In related news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at $21,987.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock valued at $25,713,777 over the last ninety days. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of nVent Electric in the first quarter worth about $26,000. Quent Capital LLC raised its stake in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the period. Rise Advisors LLC bought a new position in shares of nVent Electric in the first quarter worth about $32,000. Livelsberger Financial Advisory bought a new position in shares of nVent Electric in the fourth quarter worth about $28,000. Finally, HM Payson & Co. bought a new position in shares of nVent Electric in the third quarter worth about $26,000. Institutional investors own 90.05% of the company’s stock.

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.