KeyCorp Boosts nVent Electric (NYSE:NVT) Price Target to $84.00

nVent Electric (NYSE:NVT) had its price target raised by KeyCorp from $80.00 to $84.00 in a research report sent to investors on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

NVT has been the topic of several other research reports. Barclays dropped their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and an average price target of $85.67.

nVent Electric Trading Up 1.3 %

Shares of NVT stock opened at $74.31 on Monday. nVent Electric has a 12-month low of $45.60 and a 12-month high of $86.57. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $67.34 and its 200 day moving average is $73.24. The stock has a market capitalization of $12.34 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.47 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. During the same quarter in the prior year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts expect that nVent Electric will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Buying and Selling at nVent Electric

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

Hedge Funds Weigh In On nVent Electric

Large investors have recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in nVent Electric in the 4th quarter valued at about $82,000. PNC Financial Services Group Inc. raised its holdings in shares of nVent Electric by 7.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 93,334 shares of the company’s stock valued at $5,515,000 after purchasing an additional 6,858 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of nVent Electric in the 4th quarter valued at about $1,018,000. HighPoint Advisor Group LLC bought a new position in shares of nVent Electric during the 4th quarter worth approximately $162,000. Finally, Nomura Holdings Inc. bought a new position in shares of nVent Electric during the 4th quarter worth approximately $4,487,000. 90.05% of the stock is owned by hedge funds and other 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.