Barclays Issues Pessimistic Forecast for nVent Electric (NYSE:NVT) Stock Price

nVent Electric (NYSE:NVT) had its price objective cut by investment analysts at Barclays from $88.00 to $83.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 37.76% from the company’s current price.

NVT has been the topic of several other reports. Citigroup cut their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Price Performance

Shares of NVT stock opened at $60.25 on Monday. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.48 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock’s 50-day simple moving average is $67.75 and its 200-day simple moving average is $70.14. nVent Electric has a fifty-two week low of $56.44 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last released its 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 net margin of 10.09% and a return on equity of 14.52%. As a group, equities analysts forecast that nVent Electric will post 3.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On nVent Electric

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVT. Nordea Investment Management AB boosted its stake in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after buying an additional 13,483 shares during the last quarter. Geode Capital Management LLC grew its position in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares during the period. Harbor Capital Advisors Inc. purchased a new position in nVent Electric in the fourth quarter valued at $1,520,000. TT International Asset Management LTD raised its position in shares of nVent Electric by 20.4% in the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI boosted its stake in shares of nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after acquiring an additional 11,349 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

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.