nVent Electric (NYSE:NVT) Sets New 52-Week Low – Here’s What Happened

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 trading hands. The stock had previously closed at $55.07.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NVT shares. Barclays decreased their price objective on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus target price of $85.50.

nVent Electric Price Performance

The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a 50 day simple moving average of $66.36 and a 200-day simple moving average of $69.77. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

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

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%. nVent Electric’s dividend payout ratio is 40.82%.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors have recently added to or reduced their stakes in NVT. Crews Bank & Trust acquired a new position in shares of nVent Electric during the 4th quarter worth about $26,000. Larson Financial Group LLC grew its holdings in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Capital A Wealth Management LLC acquired a new position in nVent Electric during the fourth quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in nVent Electric in the fourth quarter valued at approximately $38,000. Finally, Huntington National Bank lifted its position in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.