nVent Electric (NYSE:NVT) Shares Gap Down – Here’s Why

nVent Electric plc (NYSE:NVT) shares 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

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Barclays boosted their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. KeyCorp boosted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $86.17.

nVent Electric Stock Down 0.3 %

The stock’s 50 day moving average is $72.92 and its 200 day moving average is $70.98. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27.

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

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.27%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. nVent Electric’s payout ratio is presently 23.46%.

Insiders Place Their Bets

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % 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 worth $7,365,956. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVT. Seelaus Asset Management LLC raised its stake in shares of nVent Electric by 18.8% during the fourth quarter. Seelaus Asset Management LLC now owns 8,337 shares of the company’s stock worth $568,000 after buying an additional 1,320 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of nVent Electric during the 4th quarter valued at $364,000. Triasima Portfolio Management inc. acquired a new position in shares of nVent Electric in the 4th quarter valued at $383,000. Hedeker Wealth LLC boosted its position in shares of nVent Electric by 15.0% in the 4th quarter. Hedeker Wealth LLC now owns 20,946 shares of the company’s stock worth $1,428,000 after purchasing an additional 2,727 shares during the last quarter. Finally, Calamos Advisors LLC grew its stake in shares of nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares during the period. Institutional investors 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.