nVent Electric (NYSE:NVT) Hits New 52-Week High on Analyst Upgrade

nVent Electric plc (NYSE:NVT - Get Free Report) shares hit a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $71.00 to $91.00. Citigroup currently has a buy rating on the stock. nVent Electric traded as high as $78.98 and last traded at $77.73, with a volume of 82212 shares traded. The stock had previously closed at $78.07.

Several other research analysts also recently issued reports on NVT. Royal Bank of Canada upped their price objective on nVent Electric from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, February 7th. The Goldman Sachs Group upped their price objective on nVent Electric from $69.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, March 15th. Barclays upped their price objective on nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a report on Monday, March 11th. They set a "buy" rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.60.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the sale, the insider now owns 36,013 shares in the company, valued at approximately $2,313,114.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Randall J. Hogan sold 184,572 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the sale, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the sale, the insider now owns 36,013 shares of the company's stock, valued at approximately $2,313,114.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVT. Quent Capital LLC boosted its stake in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company's stock worth $25,000 after purchasing an additional 234 shares during the period. HM Payson & Co. acquired a new stake in nVent Electric in the 3rd quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in nVent Electric in the 4th quarter valued at about $28,000. Arlington Trust Co LLC acquired a new stake in nVent Electric in the 3rd quarter valued at about $30,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in nVent Electric in the 2nd quarter valued at about $31,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

The stock has a market capitalization of $12.45 billion, a P/E ratio of 22.26, a PEG ratio of 1.68 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The company's fifty day simple moving average is $68.82 and its two-hundred day simple moving average is $59.34.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The firm had revenue of $861.20 million for the quarter, compared to analysts' expectations of $866.90 million. During the same period in the prior year, the firm earned $0.66 EPS. The business's revenue was up 16.1% on a year-over-year basis. As a group, equities analysts forecast that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. nVent Electric's dividend payout ratio (DPR) is 22.55%.

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.