nVent Electric (NYSE:NVT) Reaches New 52-Week High at $83.83

nVent Electric plc (NYSE:NVT - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $83.83 and last traded at $83.52, with a volume of 100023 shares traded. The stock had previously closed at $81.67.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their target price on nVent Electric from $89.00 to $88.00 and set an "outperform" rating for the company in a research report on Monday, May 6th. Citigroup upped their price objective on nVent Electric from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research report on Monday, March 11th. They set a "buy" rating and a $83.00 target price for the company. The Goldman Sachs Group upped their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, May 6th. Finally, Barclays raised their price target on shares of nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.00.

nVent Electric Stock Performance

The firm has a 50 day moving average price of $74.16 and a 200 day moving average price of $63.60. The stock has a market cap of $13.96 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.80 and a beta of 1.35. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The firm had revenue of $874.60 million during the quarter, compared to analysts' expectations of $864.14 million. During the same quarter in the prior year, the company earned $0.67 EPS. The company's revenue was up 18.0% compared to the same quarter last year. As a group, research analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, April 25th. nVent Electric's dividend payout ratio is currently 22.16%.

Insider Activity

In related news, Director Jerry W. Burris sold 4,008 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now directly owns 43,072 shares of the company's stock, valued at approximately $2,730,334.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jerry W. Burris sold 4,008 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the sale, the insider now directly owns 33,109 shares of the company's stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Company insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On nVent Electric

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in shares of nVent Electric in the fourth quarter worth $2,492,000. Citigroup Inc. raised its stake in shares of nVent Electric by 73.9% during the 3rd quarter. Citigroup Inc. now owns 71,372 shares of the company's stock valued at $3,782,000 after buying an additional 30,325 shares during the last quarter. Mariner LLC lifted its holdings in shares of nVent Electric by 10.1% in the 3rd quarter. Mariner LLC now owns 24,649 shares of the company's stock valued at $1,306,000 after buying an additional 2,263 shares during the period. Jump Financial LLC boosted its stake in shares of nVent Electric by 194.1% in the fourth quarter. Jump Financial LLC now owns 39,432 shares of the company's stock worth $2,330,000 after buying an additional 26,024 shares during the last quarter. Finally, Principal Securities Inc. acquired a new stake in nVent Electric during the fourth quarter worth about $1,221,000. Institutional investors and hedge funds own 90.05% of the company's stock.

About nVent Electric

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.