nVent Electric (NYSE:NVT) Shares Gap Down – Time to Sell?

nVent Electric plc (NYSE:NVT) gapped down prior to trading on Monday . The stock had previously closed at $74.83, but opened at $67.50. nVent Electric shares last traded at $65.87, with a volume of 919,123 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on NVT shares. Citigroup reduced their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. KeyCorp boosted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays boosted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada raised their price target on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric has an average rating of “Buy” and an average price target of $86.17.

nVent Electric Price Performance

The stock has a 50-day moving average of $73.12 and a two-hundred day moving average of $71.09. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the business posted $0.84 EPS. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts anticipate that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.20 dividend. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s payout ratio is 23.46%.

Insider Transactions at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,382 shares of company stock valued at $7,365,956. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds have recently modified their holdings of the business. Calamos Advisors LLC grew its stake in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after acquiring an additional 176 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its stake in shares of nVent Electric by 3.4% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 14,033 shares of the company’s stock worth $956,000 after purchasing an additional 467 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in nVent Electric in the 4th quarter valued at about $26,889,000. Crews Bank & Trust bought a new stake in nVent Electric in the fourth quarter valued at approximately $26,000. Finally, Busey Bank boosted its stake in shares of nVent Electric by 1.0% during the 4th quarter. Busey Bank now owns 206,997 shares of the company’s stock worth $14,109,000 after acquiring an additional 2,067 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.