nVent Electric (NYSE:NVT) Shares Gap Up to $72.52

nVent Electric plc (NYSE:NVT - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $72.52, but opened at $76.19. nVent Electric shares last traded at $74.73, with a volume of 313,630 shares changing hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup lifted their target price on nVent Electric from $71.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a research report on Monday, March 11th. They set a "buy" rating and a $83.00 price target on the stock. The Goldman Sachs Group boosted their price target on nVent Electric from $69.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. Royal Bank of Canada boosted their price target on nVent Electric from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. Finally, Barclays boosted their price target on nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, nVent Electric has an average rating of "Moderate Buy" and a consensus target price of $81.60.

nVent Electric Trading Up 1.7 %

The company has a market cap of $12.23 billion, a P/E ratio of 21.51, a PEG ratio of 1.53 and a beta of 1.35. The business has a fifty day moving average price of $70.84 and a 200-day moving average price of $60.77. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $861.20 million during the quarter, compared to analysts' expectations of $866.90 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that nVent Electric plc will post 3.24 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. Investors of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, April 25th. nVent Electric's dividend payout ratio (DPR) is currently 22.55%.

Insider Activity at nVent Electric

In related news, CEO Beth Wozniak sold 198,211 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was 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 directly owns 342 shares in the company, valued at $21,987.18. The sale was disclosed in a filing with the SEC, which is available at this link. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares in the company, valued at $21,987.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now owns 43,072 shares of the company's stock, valued at $2,730,334.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 400,252 shares of company stock worth $25,713,777. Company insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVT. Vontobel Holding Ltd. bought a new position in shares of nVent Electric in the 3rd quarter valued at $432,000. CWM LLC grew its holdings in nVent Electric by 82.3% during the 3rd quarter. CWM LLC now owns 2,850 shares of the company's stock worth $151,000 after acquiring an additional 1,287 shares during the period. IFP Advisors Inc grew its holdings in nVent Electric by 2,003.0% during the 3rd quarter. IFP Advisors Inc now owns 3,533 shares of the company's stock worth $187,000 after acquiring an additional 3,365 shares during the period. SG Americas Securities LLC grew its holdings in nVent Electric by 160.6% during the 3rd quarter. SG Americas Securities LLC now owns 31,658 shares of the company's stock worth $1,678,000 after acquiring an additional 19,509 shares during the period. Finally, Park Place Capital Corp acquired a new stake in nVent Electric during the 3rd quarter worth about $92,000. 90.05% of the stock is currently owned by institutional investors.

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.