Barclays Cuts nVent Electric (NYSE:NVT) Price Target to $83.00

nVent Electric (NYSE:NVT) had its target price decreased by Barclays from $88.00 to $83.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on NVT. Royal Bank of Canada raised their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup reduced their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.50.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $56.03 on Monday. The stock has a fifty day moving average price of $66.92 and a two-hundred day moving average price of $69.89. 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 market cap of $9.25 billion, a P/E ratio of 28.58, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric has a 1 year low of $53.30 and a 1 year high of $86.57.

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, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Research analysts forecast that nVent Electric will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Trading of nVent Electric

Several hedge funds and other institutional investors have recently modified their holdings of NVT. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the fourth quarter worth $26,000. Larson Financial Group LLC grew its position in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $27,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $38,000. Finally, Huntington National Bank grew its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 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.