nVent Electric (NYSE:NVT) Given New $75.00 Price Target at Barclays

nVent Electric (NYSE:NVT) had its price objective dropped by Barclays from $83.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 29.99% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Royal Bank of Canada lifted their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup lowered their target price 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, 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $82.00.

nVent Electric Stock Performance

NVT opened at $57.70 on Wednesday. nVent Electric has a 1-year low of $51.99 and a 1-year high of $86.57. The stock has a market cap of $9.52 billion, a P/E ratio of 29.59, a P/E/G ratio of 1.48 and a beta of 1.31. The stock’s 50 day simple moving average is $63.20 and its 200 day simple moving average is $69.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

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, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities analysts anticipate that nVent Electric will post 3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On nVent Electric

Several hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in nVent Electric by 8.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,732 shares of the company’s stock worth $2,299,000 after buying an additional 2,759 shares during the period. Siemens Fonds Invest GmbH acquired a new position in shares of nVent Electric during the 4th quarter valued at about $75,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric during the 4th quarter worth about $38,000. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric in the fourth quarter worth approximately $27,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in nVent Electric by 145.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock valued at $99,961,000 after purchasing an additional 869,906 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.