nVent Electric (NYSE:NVT) Sets New 52-Week Low – Time to Sell?

Shares of nVent Electric plc (NYSE:NVT) reached a new 52-week low on Monday . The company traded as low as $52.00 and last traded at $52.52, with a volume of 704788 shares changing hands. The stock had previously closed at $55.07.

Wall Street Analyst Weigh In

NVT has been the subject of a number of recent analyst reports. Barclays reduced their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Royal Bank of Canada lifted their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Citigroup dropped their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $86.00.

nVent Electric Trading Up 2.3 %

The stock has a market cap of $9.04 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock has a 50-day moving average price of $65.79 and a 200-day moving average price of $69.60.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. nVent Electric’s payout ratio is 40.82%.

Institutional Trading of nVent Electric

A number of hedge funds have recently bought and sold shares of NVT. Janney Montgomery Scott LLC lifted its position in nVent Electric by 5.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 24,807 shares of the company’s stock worth $1,743,000 after buying an additional 1,273 shares during the last quarter. Aptus Capital Advisors LLC increased its stake in nVent Electric by 14.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 61,432 shares of the company’s stock worth $4,316,000 after purchasing an additional 7,882 shares during the period. Victory Capital Management Inc. increased its stake in nVent Electric by 374.4% in the 3rd quarter. Victory Capital Management Inc. now owns 161,954 shares of the company’s stock worth $11,379,000 after purchasing an additional 127,813 shares during the period. Haverford Trust Co increased its stake in nVent Electric by 3.5% in the 3rd quarter. Haverford Trust Co now owns 548,608 shares of the company’s stock worth $38,545,000 after purchasing an additional 18,718 shares during the period. Finally, KBC Group NV increased its stake in nVent Electric by 447.8% in the 3rd quarter. KBC Group NV now owns 126,724 shares of the company’s stock worth $8,904,000 after purchasing an additional 103,592 shares during the period. Institutional investors own 90.05% of the company’s stock.

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.