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

nVent Electric plc (NYSE:NVT)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $52.00 and last traded at $52.52, with a volume of 704788 shares changing hands. The stock had previously closed at $55.07.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays decreased their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $85.50.

nVent Electric Stock Performance

The stock has a fifty day moving average price of $66.36 and a 200-day moving average price 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. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.48 and a beta of 1.31.

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

nVent Electric Announces Dividend

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

Institutional Trading of nVent Electric

Hedge funds have recently modified their holdings of the stock. Crews Bank & Trust bought a new position in nVent Electric in the 4th quarter valued at $26,000. Larson Financial Group LLC increased its position in nVent Electric by 91.9% in 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 bought a new stake in nVent Electric during the 4th quarter worth about $27,000. Park Square Financial Group LLC acquired a new position in nVent Electric during the 4th quarter valued at about $38,000. Finally, Huntington National Bank boosted its stake in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

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.