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

nVent Electric (NYSE:NVT) was upgraded by stock analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Several other research firms have also recently commented on NVT. Barclays reduced their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Citigroup decreased their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report 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 company an “outperform” rating in a report on Friday, February 7th. Finally, 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 report on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $83.33.

nVent Electric Stock Up 0.4 %

Shares of nVent Electric stock opened at $57.11 on Friday. nVent Electric has a one year low of $51.99 and a one year high of $86.57. The company has a market cap of $9.42 billion, a P/E ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm has a fifty day moving average of $63.63 and a two-hundred day moving average of $68.98.

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 net margin of 10.09% and a return on equity of 14.52%. On average, analysts forecast that nVent Electric will post 3.04 earnings per share for the current year.

Hedge Funds Weigh In On nVent Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVT. Nordea Investment Management AB grew its position in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares during the last quarter. Geode Capital Management LLC increased its position in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of nVent Electric in the fourth quarter worth $1,520,000. TT International Asset Management LTD raised its holdings in shares of nVent Electric by 20.4% in the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI lifted its position in shares of nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after acquiring an additional 11,349 shares in 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.