nVent Electric (NYSE:NVT) Shares Gap Up to $72.52

nVent Electric plc (NYSE:NVT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $72.52, but opened at $76.19. nVent Electric shares last traded at $74.73, with a volume of 313,630 shares trading hands.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of analyst reports. Barclays increased their price objective on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their target price on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group increased their price objective on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective for the company. Finally, Citigroup increased their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.60.

nVent Electric Price Performance

The firm has a market capitalization of $12.27 billion, a PE ratio of 21.51, a PEG ratio of 1.53 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The firm has a 50-day simple moving average of $70.84 and a 200-day simple moving average of $60.77.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.75 by $0.03. The firm had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. As a group, equities analysts forecast that nVent Electric plc will post 3.24 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 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.55%.

Insider Transactions at nVent Electric

In related news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the sale, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The disclosure for this sale can be found here. In the last three months, insiders sold 400,252 shares of company stock valued at $25,713,777. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in nVent Electric in the first quarter valued at $26,000. Quent Capital LLC grew its position in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. Rise Advisors LLC acquired a new position in nVent Electric in the 1st quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new stake in shares of nVent Electric during the 4th quarter valued at $28,000. Finally, HM Payson & Co. bought a new position in nVent Electric in the 3rd quarter worth $26,000. Hedge funds and other 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.