NYSE:NVT - Get Free Report )'s share price hit a new 52-week high on Wednesday . The stock traded as high as $79.36 and last traded at $79.36, with a volume of 318255 shares trading hands. The stock had previously closed at $77.61.
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Analysts Set New Price Targets Several analysts recently weighed in on the company. Citigroup boosted their price objective on nVent Electric from $91.00 to $92.00 and gave the company a "buy" rating in a report on Monday. Barclays lifted their target price on nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group lifted their target price on nVent Electric from $77.00 to $87.00 and gave the company a "buy" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They issued a "buy" rating and a $83.00 target price for the company. Finally, Royal Bank of Canada decreased their target price on nVent Electric from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.
Check Out Our Latest Research Report on NVT
nVent Electric Stock Performance The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $72.84 and a 200-day moving average price of $62.39. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35.
nVent Electric (NYSE:NVT - Get Free Report ) last released its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.04. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. As a group, equities research analysts forecast that nVent Electric plc will post 3.25 earnings per share for the current year.
nVent Electric Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 0.95%. nVent Electric's dividend payout ratio is currently 22.16%.
Insider Buying and Selling at nVent Electric In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the company's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the transaction, the insider now owns 33,109 shares of the company's stock, valued at $2,229,228.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link . In other news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website . Also, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares of the company's stock, valued at approximately $21,987.18. The disclosure for this sale can be found here . Over the last 90 days, insiders have sold 397,752 shares of company stock valued at $25,553,202. Corporate insiders own 2.50% of the company's stock.
Institutional Trading of nVent Electric Several hedge funds and other institutional investors have recently modified their holdings of NVT. Quent Capital LLC increased its position in nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company's stock worth $25,000 after buying an additional 234 shares during the last quarter. HM Payson & Co. acquired a new position in nVent Electric during the third quarter worth $26,000. Banque Cantonale Vaudoise acquired a new position in nVent Electric during the first quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $28,000. Finally, Pacific Center for Financial Services acquired a new stake in shares of nVent Electric in the third quarter valued at about $32,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.
About nVent Electric (
Get Free Report )
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.
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