nVent Electric (NYSE:NVT) Price Target Cut to $80.00 by Analysts at Royal Bank of Canada

nVent Electric (NYSE:NVT) had its target price lowered by Royal Bank of Canada from $82.00 to $80.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

NVT has been the subject of several other research reports. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays decreased their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $85.33.

nVent Electric Stock Up 0.9 %

NVT stock opened at $77.79 on Monday. The stock has a market capitalization of $12.82 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric has a 12 month low of $49.90 and a 12 month high of $86.57. The firm has a 50-day moving average price of $69.83 and a 200-day moving average price of $73.12.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the company earned $0.84 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that nVent Electric will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Insider Transactions at nVent Electric

In related news, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,323 shares of company stock valued at $6,994,965 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nVent Electric

Several large investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after acquiring an additional 155 shares in the last quarter. CIBC Asset Management Inc lifted its stake in nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after acquiring an additional 166 shares in the last quarter. Huntington National Bank lifted its stake in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after acquiring an additional 272 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its stake in nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after acquiring an additional 280 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

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.