nVent Electric (NYSE:NVT) Given New $70.00 Price Target at Barclays

nVent Electric (NYSE:NVT) had its target price decreased by Barclays from $75.00 to $70.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, KeyCorp decreased their target price on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Six investment 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.com, nVent Electric has a consensus rating of “Buy” and a consensus target price of $77.50.

nVent Electric Trading Down 6.3 %

Shares of nVent Electric stock opened at $45.28 on Friday. nVent Electric has a fifty-two week low of $41.90 and a fifty-two week high of $86.57. The business’s fifty day moving average is $59.82 and its two-hundred day moving average is $68.29. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market cap of $7.47 billion, a PE ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.21.

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

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in shares of nVent Electric by 4.1% during 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 increased its holdings 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 boosted its stake in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after buying an additional 176 shares during the last quarter. Utah Retirement Systems grew its position in shares of nVent Electric by 2.3% during the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock worth $608,000 after buying an additional 200 shares in the last quarter. Finally, Hancock Whitney Corp increased 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 during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.