nVent Electric (NYSE:NVT) Downgraded by ValuEngine to Strong Sell

ValuEngine lowered shares of nVent Electric (NYSE:NVT) from a sell rating to a strong sell rating in a research report sent to investors on Thursday, ValuEngine reports.

A number of other research firms also recently commented on NVT. Zacks Investment Research upgraded Hudson Technologies from a sell rating to a hold rating in a research report on Wednesday, May 29th. Buckingham Research set a $31.00 target price on nVent Electric and gave the stock a buy rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $28.67.

NYSE:NVT opened at $24.72 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $4.32 billion, a P/E ratio of 14.21 and a beta of 1.54. nVent Electric has a 12 month low of $19.71 and a 12 month high of $29.84. The stock has a 50-day moving average price of $24.26.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, April 25th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $538.00 million for the quarter, compared to the consensus estimate of $546.43 million. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. nVent Electric’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts predict that nVent Electric will post 1.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $0.70 annualized dividend and a yield of 2.83%. nVent Electric’s payout ratio is currently 40.23%.

In other nVent Electric news, Director Trian Fund Management, L.P. sold 366,901 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $26.03, for a total transaction of $9,550,433.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Ducker acquired 2,000 shares of nVent Electric stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $24.07 per share, for a total transaction of $48,140.00. The disclosure for this purchase can be found here. Insiders have sold 4,015,786 shares of company stock worth $101,315,702 over the last three months. 1.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. increased its stake in nVent Electric by 0.5% during the fourth quarter. American International Group Inc. now owns 332,763 shares of the company’s stock worth $7,474,000 after acquiring an additional 1,608 shares during the last quarter. Mcrae Capital Management Inc. increased its stake in nVent Electric by 4.8% during the first quarter. Mcrae Capital Management Inc. now owns 37,107 shares of the company’s stock worth $1,001,000 after acquiring an additional 1,711 shares during the last quarter. Truvestments Capital LLC bought a new stake in nVent Electric during the first quarter worth approximately $57,000. CWM Advisors LLC increased its stake in nVent Electric by 20.9% during the fourth quarter. CWM Advisors LLC now owns 12,218 shares of the company’s stock worth $274,000 after acquiring an additional 2,113 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in nVent Electric by 5.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 41,372 shares of the company’s stock worth $929,000 after acquiring an additional 2,320 shares during the last quarter. 86.10% of the stock is currently owned by institutional investors.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Analyst Recommendations for nVent Electric (NYSE:NVT)

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