nVent Electric (NYSE:NVT) Shares Gap Down – What’s Next?

nVent Electric plc (NYSE:NVT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $74.57, but opened at $71.91. nVent Electric shares last traded at $70.83, with a volume of 708,913 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVT shares. Royal Bank of Canada lowered their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. KeyCorp raised their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays lowered their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $85.67.

nVent Electric Stock Performance

The stock has a fifty day simple moving average of $69.47 and a two-hundred day simple moving average of $73.12. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same period in the prior year, the business posted $0.77 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts expect that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.22%.

Insider Activity at nVent Electric

In related news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC bought a new position in shares of nVent Electric in the 2nd quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in shares of nVent Electric in the 3rd quarter worth about $29,000. UMB Bank n.a. raised its position in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares in the last quarter. First Foundation Advisors bought a new position in shares of nVent Electric in the 2nd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of nVent Electric in the 2nd quarter worth about $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.