Posted by admin on May 21st, 2022
nVent Electric (NYSE:NVT – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The firm presently has a $38.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.29% from the company’s previous close.
According to Zacks, “nVent Electric plc provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes. The company’s operating segments consists of Enclosures, Thermal Management and Electrical & Fastening Solutions. nVent Electric plc is based in London, the United Kingdom. “
Separately, Barclays reduced their price target on nVent Electric from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, February 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $42.60.
Shares of NYSE NVT opened at $33.84 on Friday. nVent Electric has a one year low of $28.27 and a one year high of $39.53. The firm has a market capitalization of $5.63 billion, a PE ratio of 20.89 and a beta of 1.44. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $34.64 and a two-hundred day moving average price of $35.44.
nVent Electric (NYSE:NVT – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. nVent Electric had a return on equity of 13.68% and a net margin of 10.56%. The firm had revenue of $694.70 million during the quarter, compared to analyst estimates of $627.83 million. During the same period last year, the company posted $0.43 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. Research analysts anticipate that nVent Electric will post 2.22 EPS for the current year.
In related news, Director Ronald Merriman sold 3,947 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $35.17, for a total value of $138,815.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in nVent Electric by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock worth $619,079,000 after buying an additional 302,124 shares during the period. BlackRock Inc. increased its position in shares of nVent Electric by 3.2% during the first quarter. BlackRock Inc. now owns 14,459,036 shares of the company’s stock valued at $502,885,000 after purchasing an additional 454,668 shares during the period. American Century Companies Inc. increased its position in shares of nVent Electric by 2.2% during the first quarter. American Century Companies Inc. now owns 9,456,093 shares of the company’s stock valued at $328,883,000 after purchasing an additional 202,990 shares during the period. State Street Corp increased its position in shares of nVent Electric by 3.3% during the first quarter. State Street Corp now owns 4,800,623 shares of the company’s stock valued at $166,966,000 after purchasing an additional 152,277 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of nVent Electric by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,136,760 shares of the company’s stock valued at $143,882,000 after purchasing an additional 192,337 shares during the period. 88.44% of the stock is currently owned by institutional investors.
About nVent Electric (Get Rating)
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.
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