nVent Electric (NYSE:NVT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The brokerage currently has a $28.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 11.38% from the company’s current price.

According to Zacks, “nVent Electric plc provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes. The company’s operating segments consists of Enclosures, Thermal Management and Electrical & Fastening Solutions. nVent Electric plc is based in London, the United Kingdom. “

A number of other brokerages also recently weighed in on NVT. Buckingham Research set a $31.00 target price on shares of nVent Electric and gave the stock a “buy” rating in a research note on Friday, April 26th. ValuEngine downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Finally, KeyCorp reaffirmed a “buy” rating and issued a $30.00 target price (up from $29.00) on shares of nVent Electric in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.86.

Shares of NVT stock opened at $25.14 on Thursday. nVent Electric has a 12-month low of $19.71 and a 12-month high of $29.84. The stock has a market cap of $4.38 billion and a P/E ratio of 14.45. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.35.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. nVent Electric had a net margin of 10.62% and a return on equity of 11.66%. The firm had revenue of $538.00 million during the quarter, compared to the consensus estimate of $546.43 million. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts expect that nVent Electric will post 1.87 EPS for the current fiscal year.

In other nVent Electric news, Director Trian Fund Management, L.P. sold 366,901 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $26.03, for a total value of $9,550,433.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of nVent Electric by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 1,896,604 shares of the company’s stock worth $42,597,000 after buying an additional 151,472 shares during the last quarter. Raymond James & Associates raised its stake in shares of nVent Electric by 31.7% during the fourth quarter. Raymond James & Associates now owns 97,266 shares of the company’s stock worth $2,185,000 after buying an additional 23,392 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of nVent Electric during the fourth quarter worth approximately $242,000. HRT Financial LLC bought a new stake in shares of nVent Electric during the fourth quarter worth approximately $213,000. Finally, CLARET ASSET MANAGEMENT Corp raised its stake in shares of nVent Electric by 2.6% during the fourth quarter. CLARET ASSET MANAGEMENT Corp now owns 74,330 shares of the company’s stock worth $1,669,000 after buying an additional 1,889 shares during the last quarter. 88.84% of the stock is owned by institutional investors and hedge funds.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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