nVent Electric (NYSE:NVT) Stock Rating Upgraded by Zacks Research

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

Several other research firms also recently commented on NVT. Clear Str upgraded shares of nVent Electric to a “strong-buy” rating in a research note on Monday, July 13th. Sanford C. Bernstein reissued an “outperform” rating and issued a $233.00 price objective on shares of nVent Electric in a report on Monday. BMO Capital Markets assumed coverage on shares of nVent Electric in a report on Sunday, October 4th. They issued an “outperform” rating and a $212.00 price objective for the company. KeyCorp reiterated an “overweight” rating on shares of nVent Electric in a research report on Monday. Finally, Citigroup cut their price target on nVent Electric from $228.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $197.82.

nVent Electric Stock Performance

NYSE:NVT opened at $129.28 on Monday. The stock has a 50 day simple moving average of $151.83 and a 200 day simple moving average of $144.56. The stock has a market cap of $20.89 billion, a P/E ratio of 31.15, a PEG ratio of 0.64 and a beta of 1.39. nVent Electric has a 1-year low of $93.22 and a 1-year high of $184.64. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, October 30th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 43.7% on a year-over-year basis. Research analysts anticipate that nVent Electric will post 5.39 earnings per share for the current year.

Insiders Place Their Bets

In other nVent Electric news, insider Robert van der Kolk sold 5,858 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the sale, the insider owned 27,387 shares of the company’s stock, valued at approximately $4,500,231.84. The trade was a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NorthRock Partners LLC increased its stake in shares of nVent Electric by 1.0% in the 2nd quarter. NorthRock Partners LLC now owns 6,602 shares of the company’s stock valued at $1,120,000 after acquiring an additional 66 shares in the last quarter. Sowell Financial Services LLC lifted its position in shares of nVent Electric by 1.7% during the 2nd quarter. Sowell Financial Services LLC now owns 4,012 shares of the company’s stock valued at $680,000 after acquiring an additional 67 shares during the period. AlTi Global Inc. boosted its stake in nVent Electric by 1.8% during the first quarter. AlTi Global Inc. now owns 4,081 shares of the company’s stock worth $483,000 after acquiring an additional 74 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in nVent Electric by 0.9% during the first quarter. Meeder Advisory Services Inc. now owns 8,260 shares of the company’s stock worth $977,000 after acquiring an additional 77 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its stake in nVent Electric by 2.9% during the third quarter. Interchange Capital Partners LLC now owns 2,885 shares of the company’s stock worth $463,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

About nVent Electric

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.