Fintel reports that on September 4, 2024, Keybanc upgraded their outlook for nVent Electric (NYSE:NVT) from Sector Weight to Overweight.
Analyst Price Forecast Suggests 36.30% Upside
As of August 26, 2024, the average one-year price target for nVent Electric is $85.66/share. The forecasts range from a low of $72.72 to a high of $96.20. The average price target represents an increase of 36.30% from its latest reported closing price of $62.85 / share.
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The projected annual revenue for nVent Electric is 3,103MM, a decrease of 10.70%. The projected annual non-GAAP EPS is 2.69.
What is the Fund Sentiment?
There are 1,223 funds or institutions reporting positions in nVent Electric. This is an increase of 70 owner(s) or 6.07% in the last quarter. Average portfolio weight of all funds dedicated to NVT is 0.34%, an increase of 0.26%. Total shares owned by institutions increased in the last three months by 1.53% to 185,414K shares. 
The put/call ratio of NVT is 0.68, indicating a bullish outlook.
What are Other Shareholders Doing?
Franklin Resources holds 5,751K shares representing 3.46% ownership of the company. In its prior filing, the firm reported owning 5,709K shares , representing an increase of 0.73%. The firm decreased its portfolio allocation in NVT by 83.38% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,284K shares representing 3.18% ownership of the company. In its prior filing, the firm reported owning 5,155K shares , representing an increase of 2.44%. The firm increased its portfolio allocation in NVT by 1.28% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,164K shares representing 3.11% ownership of the company. In its prior filing, the firm reported owning 5,165K shares , representing a decrease of 0.03%. The firm increased its portfolio allocation in NVT by 3.98% over the last quarter.
FRDAX - Franklin Rising Dividends Fund Advisor Class holds 4,935K shares representing 2.97% ownership of the company. No change in the last quarter.
Massachusetts Financial Services holds 4,884K shares representing 2.94% ownership of the company. In its prior filing, the firm reported owning 4,210K shares , representing an increase of 13.80%. The firm decreased its portfolio allocation in NVT by 81.38% over the last quarter.
nVent Electric Background Information
(This description is provided by the company.)
nVent is a leading global provider of electrical connection and protection solutions. The Company believes its inventive electrical solutions enable safer systems and ensure a more secure world. It designs, manufactures, markets, installs and services high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. The Company offers a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Its principal office is in London and its management office in the United States is in Minneapolis. Its robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.
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