nVent Electric (NYSE:NVT) Stock Moved Up to “Strong-Buy” by Zacks Research

nVent Electric (NYSE:NVT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

Several other equities research analysts also recently issued reports on the company. Wolfe Research reiterated an “outperform” rating and set a $191.00 price target on shares of nVent Electric in a report on Thursday, July 9th. Wall Street Zen lowered nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Robert W. Baird raised their price objective on nVent Electric from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their price objective on shares of nVent Electric from $200.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of nVent Electric in a report on Saturday, August 1st. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $197.82.

nVent Electric Price Performance

Shares of NYSE NVT opened at $129.28 on Monday. nVent Electric has a fifty-two week low of $93.22 and a fifty-two week high of $184.64. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 0.64 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40. The firm’s 50-day simple moving average is $151.83 and its 200 day simple moving average is $144.56.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The company’s quarterly revenue was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. As a group, research analysts anticipate that nVent Electric will post 5.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other nVent Electric news, insider Robert van der Kolk sold 5,858 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $164.32, for a total value of $962,586.56. Following the transaction, the insider directly owned 27,387 shares in the company, valued at $4,500,231.84. The trade was a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds have recently modified their holdings of NVT. Point Nemo Capital LLC bought a new position in nVent Electric during the third quarter valued at $1,539,000. Kornitzer Capital Management Inc. KS increased its position in nVent Electric by 28.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 13,389 shares of the company’s stock worth $2,147,000 after buying an additional 3,000 shares during the last quarter. Formidable Asset Management LLC raised its stake in shares of nVent Electric by 98.5% in the third quarter. Formidable Asset Management LLC now owns 8,742 shares of the company’s stock valued at $1,459,000 after buying an additional 4,337 shares during the period. Alps Advisors Inc. raised its stake in shares of nVent Electric by 6.0% in the third quarter. Alps Advisors Inc. now owns 12,814 shares of the company’s stock valued at $2,055,000 after buying an additional 722 shares during the period. Finally, Heritage Family Offices LLP bought a new stake in shares of nVent Electric in the third quarter valued at $85,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Company Profile

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.