RBC Capital analyst Deane Dray maintained a Buy rating on nVent Electric (NVT – Research Report) on April 21 and set a price target of $89.00. The company’s shares closed yesterday at $71.17.
According to TipRanks, Dray is a 5-star analyst with an average return of 14.8% and a 63.53% success rate. Dray covers the Industrials sector, focusing on stocks such as Eaton, Atkore International Group, and 3M.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for nVent Electric with a $84.83 average price target, implying a 19.19% upside from current levels. In a report released on April 8, Citi also maintained a Buy rating on the stock with a $91.00 price target.
NVT market cap is currently $11.82B and has a P/E ratio of 21.25.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVT in relation to earlier this year. Last month, Michael B Faulconer, the President – Thermal Management of NVT sold 10,961.00 shares for a total of $738,004.13.
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nVent Electric (NVT) Company Description:
nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment. The Thermal Management segment includes electric thermal solutions that connect and protect critical buildings, infrastructure, industrial processes, and people. The Electrical & Fastening Solution segment consists of fastening solutions that connect and protect electrical and mechanical systems and civil structures. The company was founded on May 30, 2017 and is headquartered in London, the United Kingdom.
Read More on NVT:
- nVent Electric announces release of 2023 Sustainability Report
- nVent Electric price target raised to $91 from $71 at Citi
- nVent Electric price target raised to $84 from $68 at Wolfe Research
- nVent Electric price target raised to $89 from $72 at RBC Capital
- nVent Electric price target raised to $85 from $74 at Barclays
