nVent Electric (NYSE:NVT) Given New $75.00 Price Target at KeyCorp

nVent Electric (NYSE:NVT) had its target price lowered by KeyCorp from $84.00 to $75.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on NVT. Barclays reduced their price target on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. CL King upgraded 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. Finally, Citigroup cut their target price on shares of 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 analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $80.50.

nVent Electric Stock Down 3.1 %

NYSE:NVT opened at $52.89 on Friday. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth 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 has a twelve month low of $51.99 and a twelve month high of $86.57. The stock’s 50 day moving average price is $62.19 and its two-hundred day moving average price is $68.76.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (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%. Equities research analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio is 40.82%.

Institutional Trading of nVent Electric

Hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC increased its holdings in shares of nVent Electric by 91.9% during 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 period. Crews Bank & Trust acquired a new stake in nVent Electric during the fourth quarter worth approximately $26,000. Capital A Wealth Management LLC bought a new position in nVent Electric during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new position in nVent Electric in the 4th quarter valued at $38,000. Finally, Brooklyn Investment Group acquired a new position in nVent Electric in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.