nVent Electric (NYSE:NVT) Downgraded by Vertical Research

Vertical Research cut shares of nVent Electric (NYSE:NVT) from a buy rating to a hold rating in a research report released on Thursday, BenzingaRatingsTable reports.

A number of other equities research analysts have also recently weighed in on NVT. Zacks Investment Research cut nVent Electric from a hold rating to a strong sell rating in a research note on Tuesday, July 23rd. ValuEngine cut nVent Electric from a sell rating to a strong sell rating in a research note on Thursday, July 11th. Finally, Buckingham Research set a $31.00 price objective on nVent Electric and gave the stock a buy rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $29.40.

Shares of NYSE NVT traded down $1.02 during mid-day trading on Thursday, reaching $21.57. 2,070,727 shares of the company were exchanged, compared to its average volume of 1,162,112. The company has a current ratio of 1.87, a quick ratio of 1.22 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $3.95 billion, a PE ratio of 12.40 and a beta of 1.54. nVent Electric has a 1 year low of $19.71 and a 1 year high of $29.84. The business has a 50-day simple moving average of $24.56.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $550.75 million. nVent Electric had a return on equity of 11.69% and a net margin of 11.43%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. Analysts anticipate that nVent Electric will post 1.79 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Friday, July 19th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 3.25%. The ex-dividend date was Thursday, July 18th. nVent Electric’s dividend payout ratio is currently 40.23%.

In other nVent Electric news, Director Michael L. Ducker bought 2,000 shares of nVent Electric stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average cost of $24.07 per share, with a total value of $48,140.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Trian Fund Management, L.P. sold 366,901 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $26.03, for a total value of $9,550,433.03. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Personal Wealth Partners acquired a new position in nVent Electric during the 2nd quarter valued at about $27,000. Truvestments Capital LLC acquired a new position in nVent Electric during the 1st quarter valued at about $57,000. Investors Research Corp acquired a new position in nVent Electric during the 1st quarter valued at about $101,000. World Asset Management Inc acquired a new position in nVent Electric during the 1st quarter valued at about $205,000. Finally, Qube Research & Technologies Ltd acquired a new position in nVent Electric during the 2nd quarter valued at about $207,000. 86.08% of the stock is currently owned by institutional investors.

About nVent Electric

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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