nVent Electric (NYSE:NVT) Shares Down 4.9% - Should You Sell?

nVent Electric PLC (NYSE:NVT - Get Free Report) shares dropped 4.9% on Thursday . The stock traded as low as $72.15 and last traded at $71.50. Approximately 737,155 shares traded hands during trading, a decline of 66% from the average daily volume of 2,159,544 shares. The stock had previously closed at $75.20.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Citigroup decreased their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. KeyCorp increased their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group upped their target price on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Monday. Finally, Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $73.83.

nVent Electric Stock Performance

The stock has a market capitalization of $12.30 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The company has a 50 day simple moving average of $67.89 and a 200-day simple moving average of $63.21.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. On average, equities analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. nVent Electric's payout ratio is 22.86%.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president directly owned 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of nVent Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in NVT. SVB Wealth LLC acquired a new position in nVent Electric in the 1st quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in nVent Electric during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC boosted its stake in nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after purchasing an additional 500 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of nVent Electric during the 1st quarter valued at $36,000. Finally, Park Square Financial Group LLC bought a new position in nVent Electric in the 4th quarter worth $38,000. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.