nVent Electric (NYSE:NVT) Sets New 1-Year Low After Analyst Downgrade

nVent Electric plc (NYSE:NVT)’s stock price hit a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $88.00 to $83.00. Barclays currently has an overweight rating on the stock. nVent Electric traded as low as $56.12 and last traded at $55.94, with a volume of 1433575 shares traded. The stock had previously closed at $60.34.

A number of other equities analysts have also recently issued reports on the company. Citigroup dropped their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $85.50.

Institutional Trading of nVent Electric

Large investors have recently bought and sold shares of the business. Crews Bank & Trust acquired a new position in shares of nVent Electric during the fourth quarter valued at about $26,000. Larson Financial Group LLC raised its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. Capital A Wealth Management LLC bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in shares of nVent Electric in the fourth quarter valued at $38,000. Finally, Huntington National Bank lifted its holdings in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Down 6.7 %

The stock’s 50 day moving average is $67.49 and its 200 day moving average is $70.06. The company has a market capitalization of $9.29 billion, a PE ratio of 28.73, a PEG ratio of 1.48 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.42%. nVent Electric’s payout ratio is 40.82%.

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.