ValuEngine upgraded shares of nVent Electric (NYSE:NVT) from a strong sell rating to a sell rating in a research note released on Tuesday, December 3rd, ValuEngine reports.
Other equities research analysts have also recently issued reports about the stock. KeyCorp reissued a buy rating and issued a $29.00 price objective on shares of nVent Electric in a research report on Monday, November 25th. G.Research lowered nVent Electric from a buy rating to a hold rating in a report on Friday, November 1st. Royal Bank of Canada lowered nVent Electric from an outperform rating to a sector perform rating and decreased their target price for the company from $30.00 to $24.00 in a research report on Tuesday, October 1st. Rosenblatt Securities restated a buy rating and issued a $29.00 price objective on shares of nVent Electric in a report on Sunday, November 24th. Finally, Gabelli cut shares of nVent Electric from a buy rating to a hold rating and set a $27.00 target price on the stock. in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $26.14.
Shares of NYSE:NVT opened at $25.11 on Tuesday. The company has a 50-day moving average price of $24.24 and a 200 day moving average price of $22.90. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 14.43 and a beta of 1.70. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. nVent Electric has a 12 month low of $19.04 and a 12 month high of $28.49.
nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. nVent Electric had a net margin of 11.07% and a return on equity of 11.85%. The business had revenue of $559.80 million during the quarter, compared to the consensus estimate of $554.44 million. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts forecast that nVent Electric will post 1.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $0.70 annualized dividend and a yield of 2.79%. nVent Electric’s dividend payout ratio (DPR) is 40.23%.
In other nVent Electric news, Director Randall J. Hogan sold 204,605 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $23.97, for a total transaction of $4,904,381.85. Also, Director William T. Monahan sold 6,116 shares of nVent Electric stock in a transaction on Friday, November 29th. The stock was sold at an average price of $24.97, for a total transaction of $152,716.52. Following the sale, the director now owns 50,523 shares of the company’s stock, valued at $1,261,559.31. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NVT. Brookstone Capital Management purchased a new position in nVent Electric during the 2nd quarter worth approximately $442,000. Quantitative Systematic Strategies LLC purchased a new position in shares of nVent Electric during the 2nd quarter valued at about $710,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of nVent Electric by 4.0% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,700 shares of the company’s stock valued at $389,000 after buying an additional 600 shares during the period. Virginia Retirement Systems ET AL purchased a new position in nVent Electric during the second quarter valued at approximately $421,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in nVent Electric by 130.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 175,925 shares of the company’s stock valued at $4,361,000 after acquiring an additional 99,700 shares during the period. Hedge funds and other institutional investors own 86.78% of the company’s stock.
nVent Electric Company Profile
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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