nVent Electric (NYSE:NVT) Price Target Lowered to $75.00 at KeyCorp

nVent Electric (NYSE:NVT) had its price objective lowered by analysts at KeyCorp from $84.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 41.03% from the stock’s current price.

A number of other research firms have also recently commented on NVT. Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Citigroup dropped their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Barclays decreased their target price on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, nVent Electric currently has an average rating of “Buy” and an average target price of $80.50.

nVent Electric Trading Down 2.6 %

Shares of NVT traded down $1.41 during mid-day trading on Friday, hitting $53.18. 132,816 shares of the company’s stock traded hands, compared to its average volume of 1,754,078. The business’s 50-day moving average price is $62.58 and its 200-day moving average price is $68.82. nVent Electric has a 1 year low of $51.99 and a 1 year high of $86.57. The firm has a market capitalization of $8.78 billion, a P/E ratio of 27.12, a PEG ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS 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, sell-side analysts forecast that nVent Electric will post 3.04 EPS for the current fiscal year.

Institutional Trading of nVent Electric

Several large investors have recently modified their holdings of the company. Larson Financial Group LLC boosted its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Crews Bank & Trust purchased a new stake in nVent Electric during the fourth quarter valued at approximately $26,000. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric during the 4th quarter worth $27,000. Park Square Financial Group LLC bought a new stake in shares of nVent Electric during the 4th quarter valued at $38,000. Finally, Brooklyn Investment Group bought a new stake in shares of nVent Electric during the 3rd quarter valued at $44,000. Institutional investors 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.