Zacks Investment Research lowered shares of nVent Electric (NYSE:NVT) from a hold rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “nVent Electric plc provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes. The company’s operating segments consists of Enclosures, Thermal Management and Electrical & Fastening Solutions. nVent Electric plc is based in London, the United Kingdom. “

Other research analysts have also issued reports about the company. Goldman Sachs Group raised nVent Electric from a neutral rating to a buy rating and reduced their price target for the stock from $31.00 to $30.00 in a research report on Friday, October 26th. Barclays reissued a hold rating and issued a $25.00 price target on shares of nVent Electric in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $28.60.

Shares of NVT traded down $0.83 during trading hours on Tuesday, hitting $25.69. The company had a trading volume of 764,888 shares, compared to its average volume of 1,378,943. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.96 and a quick ratio of 1.41. nVent Electric has a one year low of $21.00 and a one year high of $29.84.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.07). The firm had revenue of $563.90 million during the quarter, compared to analysts’ expectations of $558.40 million. Analysts expect that nVent Electric will post 1.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, October 18th.

In related news, Director William T. Monahan sold 17,133 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $28.08, for a total transaction of $481,094.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Randall J. Hogan sold 21,082 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $25.35, for a total value of $534,428.70. The disclosure for this sale can be found here.

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new position in nVent Electric during the 2nd quarter valued at about $406,000. Farmers & Merchants Investments Inc. purchased a new stake in nVent Electric during the 3rd quarter valued at about $100,000. Stratos Wealth Partners LTD. purchased a new stake in nVent Electric during the 3rd quarter valued at about $102,000. TRUE Private Wealth Advisors purchased a new stake in nVent Electric during the 3rd quarter valued at about $114,000. Finally, First Bank & Trust purchased a new stake in nVent Electric during the 2nd quarter valued at about $105,000. 81.17% of the stock is currently owned by institutional investors.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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