nVent Electric PLC (NYSE:NVT - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $136.29 and last traded at $135.7010, with a volume of 1264400 shares traded. The stock had previously closed at $134.69.
Wall Street Analyst Weigh In
NVT has been the subject of several recent analyst reports. Weiss Ratings raised nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 11th. Barclays boosted their price objective on nVent Electric from $141.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Wall Street Zen lowered nVent Electric from a "strong-buy" rating to a "buy" rating in a report on Monday, February 23rd. KeyCorp boosted their price objective on nVent Electric from $125.00 to $130.00 and gave the stock an "overweight" rating in a report on Monday, February 9th. Finally, Roth Mkm boosted their price objective on nVent Electric from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $144.00.
Read Our Latest Research Report on nVent Electric
nVent Electric Stock Performance
The firm has a market cap of $21.94 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28. The company has a 50 day simple moving average of $118.77 and a 200-day simple moving average of $110.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16.
nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.nVent Electric's revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, equities research analysts anticipate that nVent Electric PLC will post 4.15 EPS for the current year.
nVent Electric Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 annualized dividend and a yield of 0.6%. nVent Electric's dividend payout ratio is currently 19.53%.
Insiders Place Their Bets
In other nVent Electric news, Director Jerry W. Burris sold 5,244 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the sale, the director owned 46,371 shares of the company's stock, valued at $5,206,072.17. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan M. Cameron sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the sale, the director directly owned 13,405 shares of the company's stock, valued at approximately $1,535,140.60. This represents a 27.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,841 shares of company stock valued at $2,046,166 over the last quarter. 1.70% of the stock is owned by corporate insiders.
Institutional Trading of nVent Electric
Several hedge funds and other institutional investors have recently bought and sold shares of NVT. Norges Bank purchased a new stake in nVent Electric in the fourth quarter worth approximately $245,955,000. Price T Rowe Associates Inc. MD boosted its stake in shares of nVent Electric by 361.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,577,555 shares of the company's stock valued at $262,835,000 after purchasing an additional 2,019,483 shares during the period. Holocene Advisors LP purchased a new stake in shares of nVent Electric during the third quarter valued at approximately $151,265,000. Balyasny Asset Management L.P. boosted its stake in shares of nVent Electric by 3,467.1% during the third quarter. Balyasny Asset Management L.P. now owns 1,326,100 shares of the company's stock valued at $130,807,000 after purchasing an additional 1,288,924 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in shares of nVent Electric during the second quarter valued at approximately $78,222,000. Hedge funds and other institutional investors own 90.05% of the company's stock.
About nVent Electric
(
Get Free Report)
nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.
The company's electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.
Further Reading
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