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

nVent Electric PLC (NYSE:NVT - Get Free Report) shares were down 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 mid-day trading, a decline of 66% from the average daily volume of 2,159,544 shares. The stock had previously closed at $75.20.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NVT shares. KeyCorp lifted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday. 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. Finally, Barclays boosted their target price on shares of nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $73.83.

nVent Electric Stock Up 0.4%

The stock's fifty day moving average is $68.26 and its two-hundred day moving average is $63.25. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48. The firm has a market cap of $12.34 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31.

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

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is currently 22.86%.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On nVent Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC purchased a new position in nVent Electric during the second quarter valued at approximately $260,000. Farther Finance Advisors LLC raised its position in nVent Electric by 65.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,302 shares of the company's stock worth $242,000 after purchasing an additional 1,306 shares during the period. Diversified Trust Co grew its holdings in shares of nVent Electric by 27.9% in the second quarter. Diversified Trust Co now owns 13,584 shares of the company's stock worth $995,000 after purchasing an additional 2,960 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in nVent Electric by 4.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 39,275 shares of the company's stock worth $2,942,000 after acquiring an additional 1,663 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in nVent Electric during the 2nd quarter worth about $322,000. Hedge funds and other institutional investors 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.