nVent Electric (NYSE:NVT) Price Target Cut to $80.00 by Analysts at Royal Bank of Canada

nVent Electric (NYSE:NVT) had its target price decreased by Royal Bank of Canada from $82.00 to $80.00 in a research report sent to investors on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Barclays decreased their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $85.33.

nVent Electric Trading Up 0.9 %

Shares of nVent Electric stock opened at $77.79 on Monday. nVent Electric has a 1 year low of $49.90 and a 1 year high of $86.57. The firm has a market cap of $12.82 billion, a PE ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.26. The stock has a fifty day moving average price of $69.83 and a 200-day moving average price of $73.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the prior year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is presently 22.29%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the sale, the insider now owns 19,766 shares in the company, valued at $1,251,978.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,323 shares of company stock valued at $6,994,965 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of nVent Electric

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC increased its stake in shares of nVent Electric by 7.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,399 shares of the company’s stock valued at $450,000 after buying an additional 453 shares during the period. Whalen Wealth Management Inc. purchased a new position in shares of nVent Electric during the third quarter valued at approximately $768,000. Thrivent Financial for Lutherans increased its stake in shares of nVent Electric by 18.6% during the third quarter. Thrivent Financial for Lutherans now owns 429,615 shares of the company’s stock valued at $30,185,000 after buying an additional 67,489 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in shares of nVent Electric by 32.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 684,732 shares of the company’s stock valued at $48,110,000 after buying an additional 167,632 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after buying an additional 166 shares during the period. Institutional investors 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.