nVent Electric (NYSE:NVT) Sets New 12-Month Low Following Analyst Downgrade

nVent Electric plc (NYSE:NVT) shares reached 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 changing hands. The stock had previously closed at $60.34.

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

Institutional Trading of nVent Electric

A number of institutional investors have recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the 4th quarter valued at about $26,000. Larson Financial Group LLC increased its stake in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric during the fourth quarter worth $27,000. Park Square Financial Group LLC bought a new position in shares of nVent Electric in the 4th quarter worth about $38,000. Finally, Huntington National Bank boosted its holdings in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The company’s fifty day moving average price is $67.75 and its 200 day moving average price is $70.14. 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 issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Equities research analysts expect that nVent Electric plc will post 3.04 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 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

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.