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

nVent Electric plc (NYSE:NVT) shares gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Royal Bank of Canada lifted their price target on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Finally, Barclays raised their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

nVent Electric Trading Up 2.0 %

The firm has a market cap of $12.27 billion, a PE ratio of 21.51, a P/E/G ratio of 1.53 and a beta of 1.35. The company’s fifty day moving average price is $70.84 and its two-hundred day moving average price is $60.77. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 17.38% and a return on equity of 17.53%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. As a group, sell-side analysts forecast that nVent Electric plc will post 3.24 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given 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 of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.55%.

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares in the company, valued at $2,730,334.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new stake in nVent Electric in the first quarter valued at $26,000. Quent Capital LLC raised its holdings in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the period. Rise Advisors LLC acquired a new stake in shares of nVent Electric during the first quarter worth $32,000. Livelsberger Financial Advisory acquired a new stake in shares of nVent Electric during the fourth quarter worth $28,000. Finally, HM Payson & Co. acquired a new stake in shares of nVent Electric during the third quarter worth $26,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.