nVent Electric (NYSE:NVT) Cut to Hold at Zacks Investment Research

nVent Electric (NYSE:NVTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

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. “

Separately, Barclays reduced their price target on nVent Electric from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $42.60.

Shares of nVent Electric stock opened at $34.24 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 1.05. The business’s 50 day simple moving average is $34.65 and its two-hundred day simple moving average is $35.46. The stock has a market capitalization of $5.70 billion, a P/E ratio of 21.14 and a beta of 1.44. nVent Electric has a one year low of $28.27 and a one year high of $39.53.

nVent Electric (NYSE:NVTGet Rating) last announced its quarterly earnings results on Friday, April 29th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. nVent Electric had a return on equity of 13.68% and a net margin of 10.56%. The business had revenue of $694.70 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same period in the previous year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 26.6% on a year-over-year basis. Sell-side analysts expect that nVent Electric will post 2.22 earnings per share for the current fiscal year.

In other nVent Electric news, Director Ronald Merriman sold 3,947 shares of the business’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $35.17, for a total value of $138,815.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in NVT. Signaturefd LLC lifted its holdings in shares of nVent Electric by 41.1% during the fourth quarter. Signaturefd LLC now owns 1,955 shares of the company’s stock valued at $74,000 after purchasing an additional 569 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in nVent Electric by 39.9% in the first quarter. AdvisorNet Financial Inc now owns 2,186 shares of the company’s stock valued at $76,000 after acquiring an additional 624 shares during the period. Quadrant Capital Group LLC lifted its holdings in nVent Electric by 92.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock valued at $82,000 after acquiring an additional 1,045 shares during the period. Bank of New Hampshire bought a new position in nVent Electric in the first quarter valued at about $88,000. Finally, Lazard Asset Management LLC lifted its holdings in nVent Electric by 37.8% in the fourth quarter. Lazard Asset Management LLC now owns 3,900 shares of the company’s stock valued at $148,000 after acquiring an additional 1,070 shares during the period. 88.44% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Company Profile (Get Rating)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

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