nVent Electric (NYSE:NVT) Upgraded to “Strong-Buy” at Seaport Res Ptn

Seaport Res Ptn upgraded shares of nVent Electric (NYSE:NVT) from a hold rating to a strong-buy rating in a research report released on Friday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Citigroup reduced their price objective 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. 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 research note on Friday, February 7th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. Finally, Barclays reduced their target price on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $83.33.

nVent Electric Trading Up 0.4 %

Shares of nVent Electric stock opened at $57.11 on Friday. The company has a fifty day simple moving average of $63.63 and a 200-day simple moving average of $68.98. nVent Electric has a 12-month low of $51.99 and a 12-month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities analysts forecast that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Institutional Trading of nVent Electric

Large investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise boosted its stake in shares of nVent Electric by 152.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company’s stock worth $114,000 after purchasing an additional 978 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in nVent Electric during the third quarter worth approximately $2,877,000. Advisors Asset Management Inc. grew its stake in nVent Electric by 5.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock worth $432,000 after acquiring an additional 301 shares during the period. Intech Investment Management LLC raised its holdings in nVent Electric by 137.1% in the 3rd quarter. Intech Investment Management LLC now owns 51,904 shares of the company’s stock valued at $3,647,000 after acquiring an additional 30,017 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of nVent Electric by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock worth $72,752,000 after purchasing an additional 3,599 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.