Royal Bank of Canada Forecasts Strong Price Appreciation for nVent Electric (NYSE:NVT) Stock

nVent Electric (NYSE:NVT) had its price objective raised by Royal Bank of Canada from $85.00 to $86.00 in a research note published on Friday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

NVT has been the subject of a number of other reports. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays boosted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, KeyCorp increased their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $86.33.

nVent Electric Trading Up 3.1 %

NVT opened at $67.85 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.36. nVent Electric has a fifty-two week low of $56.44 and a fifty-two week high of $86.57. The company’s 50 day moving average price is $70.68 and its two-hundred day moving average price is $70.24. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 3.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, research analysts predict that nVent Electric will post 3.03 earnings per share for the current year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were paid a $0.20 dividend. The ex-dividend date was Friday, January 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is currently 40.82%.

Insider Activity at nVent Electric

In related news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors have recently modified their holdings of NVT. GAMMA Investing LLC increased its stake in nVent Electric by 68.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,565 shares of the company’s stock valued at $110,000 after purchasing an additional 636 shares in the last quarter. CWM LLC increased its position in shares of nVent Electric by 37.2% during the third quarter. CWM LLC now owns 3,448 shares of the company’s stock worth $242,000 after acquiring an additional 935 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares during the last quarter. Carnegie Investment Counsel lifted its position in nVent Electric by 24.8% in the 3rd quarter. Carnegie Investment Counsel now owns 90,071 shares of the company’s stock valued at $6,328,000 after acquiring an additional 17,879 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in nVent Electric by 18.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 185,801 shares of the company’s stock valued at $13,054,000 after purchasing an additional 28,285 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

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.