nVent Electric (NYSE:NVT) Reaches New 52-Week High at $39.82

Shares of nVent Electric plc (NYSE:NVTGet Rating) reached a new 52-week high on Thursday . The company traded as high as $39.82 and last traded at $39.45, with a volume of 2447 shares. The stock had previously closed at $38.25.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVT. Loop Capital began coverage on nVent Electric in a research note on Friday, October 7th. They set a “hold” rating and a $34.00 price target on the stock. Barclays upped their price target on nVent Electric from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, October 31st. Finally, Royal Bank of Canada upped their price target on nVent Electric from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, nVent Electric has an average rating of “Moderate Buy” and an average target price of $41.40.

nVent Electric Trading Down 1.2 %

The stock has a market capitalization of $6.50 billion, a PE ratio of 21.45 and a beta of 1.39. The firm has a 50 day moving average price of $33.99 and a 200 day moving average price of $33.83. The company has a quick ratio of 1.30, a current ratio of 1.88 and a debt-to-equity ratio of 0.40.

nVent Electric (NYSE:NVTGet Rating) last issued its quarterly earnings data on Friday, October 28th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $745.20 million during the quarter, compared to the consensus estimate of $711.50 million. nVent Electric had a return on equity of 14.69% and a net margin of 10.86%. Equities analysts expect that nVent Electric plc will post 2.31 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Friday, October 21st were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Thursday, October 20th. nVent Electric’s payout ratio is 38.46%.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 3,947 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $36.84, for a total transaction of $145,407.48. Following the completion of the sale, the director now directly owns 40,621 shares of the company’s stock, valued at $1,496,477.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jerry W. Burris sold 3,947 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $36.84, for a total transaction of $145,407.48. Following the completion of the sale, the director now directly owns 40,621 shares of the company’s stock, valued at $1,496,477.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sara E. Zawoyski sold 3,591 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $36.88, for a total value of $132,436.08. Following the transaction, the chief financial officer now directly owns 43,927 shares of the company’s stock, valued at $1,620,027.76. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On nVent Electric

Institutional investors and hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC bought a new position in nVent Electric during the second quarter valued at $29,000. CX Institutional bought a new position in nVent Electric during the second quarter valued at $32,000. SeaCrest Wealth Management LLC bought a new position in shares of nVent Electric in the second quarter worth $39,000. Wipfli Financial Advisors LLC bought a new position in shares of nVent Electric in the third quarter worth $50,000. Finally, Venture Visionary Partners LLC bought a new position in shares of nVent Electric in the second quarter worth $58,000. 88.28% of the stock is owned by institutional investors.

About nVent Electric

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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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