nVent Electric (NYSE:NVT) Reaches New 12-Month High at $79.36

Shares of nVent Electric plc (NYSE:NVT) hit a new 52-week high during trading on Wednesday . The company traded as high as $79.36 and last traded at $79.36, with a volume of 318255 shares traded. The stock had previously closed at $77.61.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVT. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. Royal Bank of Canada reduced their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays lifted their target price 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. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup boosted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

nVent Electric Stock Up 2.2 %

The business’s 50 day moving average price is $72.84 and its 200-day moving average price is $62.39. The firm has a market capitalization of $13.17 billion, a PE ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

Insider Activity at nVent Electric

In related news, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction that occurred 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 transaction, the chief executive officer now owns 342 shares in the company, valued at $21,987.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other nVent Electric news, Director Randall J. Hogan sold 184,572 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction 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 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 quarter, insiders sold 397,752 shares of company stock worth $25,553,202. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC boosted its holdings in shares of nVent Electric by 17.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after buying an additional 157 shares in the last quarter. HMS Capital Management LLC boosted its holdings in shares of nVent Electric by 3.2% in the 1st quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after buying an additional 183 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of nVent Electric by 3.2% in the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after buying an additional 191 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of nVent Electric by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after buying an additional 200 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.