nVent Electric (NYSE:NVT) Given New $74.00 Price Target at The Goldman Sachs Group

nVent Electric (NYSE:NVT) had its price target decreased by The Goldman Sachs Group from $86.00 to $74.00 in a report issued on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on NVT. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. KeyCorp lowered their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Finally, Citigroup cut their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, nVent Electric has an average rating of “Buy” and a consensus target price of $78.33.

nVent Electric Stock Up 3.4 %

NYSE:NVT opened at $55.04 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company’s fifty day moving average price is $60.95 and its 200-day moving average price is $68.57. nVent Electric has a 1-year low of $50.14 and a 1-year high of $86.57. The firm has a market capitalization of $9.08 billion, a P/E ratio of 28.08, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities research analysts anticipate that nVent Electric will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is presently 40.82%.

Institutional Investors Weigh In On nVent Electric

Several large investors have recently bought and sold shares of NVT. Quadrant Capital Group LLC boosted its stake in shares of nVent Electric by 4.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after acquiring an additional 150 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after buying an additional 176 shares in the last quarter. Utah Retirement Systems raised its position in shares of nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after buying an additional 200 shares during the last quarter. Finally, Hancock Whitney Corp lifted its stake in shares of nVent Electric by 1.4% in the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after buying an additional 206 shares in the last quarter. 90.05% of the stock is currently 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.