Analysts at Rosenblatt Securities started coverage on shares of nVent Electric (NYSE:NVT) in a research note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating and a $28.00 price target on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 17.01% from the stock’s previous close.
NVT has been the subject of several other reports. G.Research cut nVent Electric from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Vertical Research cut nVent Electric from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. KeyCorp dropped their price objective on nVent Electric from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Gabelli cut nVent Electric from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Friday, November 1st. Finally, Barclays reaffirmed a “hold” rating and issued a $25.00 price objective on shares of nVent Electric in a report on Sunday, August 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.25.
NYSE NVT traded up $0.20 during midday trading on Thursday, hitting $23.93. The company had a trading volume of 1,014,271 shares, compared to its average volume of 1,231,647. The company has a market capitalization of $4.05 billion, a PE ratio of 13.75 and a beta of 1.68. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $21.51 and a 200-day moving average price of $23.19. nVent Electric has a twelve month low of $19.04 and a twelve month high of $28.49.
nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $559.80 million during the quarter, compared to analysts’ expectations of $554.44 million. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS. On average, equities analysts anticipate that nVent Electric will post 1.75 EPS for the current year.
In other news, Director Randall J. Hogan sold 204,605 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $23.97, for a total transaction of $4,904,381.85. 1.60% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Paloma Partners Management Co increased its holdings in nVent Electric by 245.8% in the 2nd quarter. Paloma Partners Management Co now owns 168,051 shares of the company’s stock worth $4,165,000 after purchasing an additional 119,451 shares in the last quarter. Glen Harbor Capital Management LLC increased its holdings in nVent Electric by 53.2% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 18,992 shares of the company’s stock worth $471,000 after purchasing an additional 6,592 shares in the last quarter. Advisor Group Inc. increased its holdings in nVent Electric by 85.9% in the 2nd quarter. Advisor Group Inc. now owns 11,699 shares of the company’s stock worth $290,000 after purchasing an additional 5,407 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in nVent Electric in the 2nd quarter worth about $207,000. Finally, Sandbar Asset Management LLP increased its holdings in nVent Electric by 38.1% in the 2nd quarter. Sandbar Asset Management LLP now owns 191,856 shares of the company’s stock worth $4,756,000 after purchasing an additional 52,926 shares in the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.
About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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