Investment analysts at Rosenblatt Securities assumed coverage on shares of nVent Electric (NYSE:NVT) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “buy” rating and a $28.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential upside of 17.01% from the company’s previous close.
NVT has been the topic of a number of other research reports. Zacks Investment Research lowered nVent Electric from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. G.Research lowered nVent Electric from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada lowered nVent Electric from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $30.00 to $24.00 in a research report on Tuesday, October 1st. Gabelli lowered nVent Electric from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Friday, November 1st. Finally, Buckingham Research dropped their price target on nVent Electric from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.25.
NVT traded up $0.20 during midday trading on Thursday, reaching $23.93. 1,014,271 shares of the company were exchanged, compared to its average volume of 1,231,647. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.84. nVent Electric has a one year low of $19.04 and a one year high of $28.49. The stock has a market capitalization of $4.05 billion, a P/E ratio of 13.75 and a beta of 1.68. The stock’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $23.19.
nVent Electric (NYSE:NVT) last issued its earnings results on Wednesday, October 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The firm had revenue of $559.80 million for the quarter, compared to analysts’ expectations of $554.44 million. During the same quarter last year, the business earned $0.46 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. On average, research analysts anticipate that nVent Electric will post 1.75 earnings per share for the current year.
In related news, Director Randall J. Hogan sold 204,605 shares of nVent Electric stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $23.97, for a total value of $4,904,381.85. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in NVT. Personal Wealth Partners acquired a new stake in nVent Electric in the 2nd quarter valued at approximately $27,000. First Interstate Bank bought a new position in nVent Electric in the second quarter valued at approximately $41,000. Stonebridge Capital Advisors LLC bought a new position in nVent Electric in the second quarter valued at approximately $84,000. Point72 Asset Management L.P. bought a new position in nVent Electric in the second quarter valued at approximately $87,000. Finally, Captrust Financial Advisors grew its stake in nVent Electric by 19.7% in the second quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock valued at $128,000 after purchasing an additional 853 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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