nVent Electric (NYSE:NVT) Sets New 52-Week Low – Time to Sell?

nVent Electric plc (NYSE:NVT)’s stock price hit a new 52-week low on Monday . The stock 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.

Analyst Ratings Changes

NVT has been the subject of several research analyst reports. Barclays decreased their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company 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 for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $86.00.

nVent Electric Trading Up 2.3 %

The firm has a fifty day moving average of $65.79 and a two-hundred day moving average of $69.60. The company has a market cap of $9.04 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. 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 quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Institutional Investors Weigh In On nVent Electric

Several large investors have recently added to or reduced their stakes in NVT. Crews Bank & Trust purchased a new position in nVent Electric during the 4th quarter valued at about $26,000. Larson Financial Group LLC grew its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in nVent Electric during the 4th quarter valued at about $27,000. Park Square Financial Group LLC purchased a new position in nVent Electric during the 4th quarter valued at about $38,000. Finally, Huntington National Bank grew its holdings in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. 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.