Vertical Research started coverage on shares of nVent Electric (NYSE:NVT) in a research note released on Tuesday morning, Marketbeat.com reports. The firm issued a hold rating and a $28.00 price target on the stock.
Other equities research analysts have also recently issued reports about the stock. Goldman Sachs Group upgraded shares of nVent Electric from a neutral rating to a buy rating and decreased their price target for the company from $31.00 to $30.00 in a report on Friday, October 26th. Barclays reiterated a hold rating and issued a $25.00 target price on shares of nVent Electric in a research note on Friday, July 27th. Finally, Zacks Investment Research cut shares of nVent Electric from a hold rating to a sell rating in a research note on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. nVent Electric has a consensus rating of Hold and a consensus target price of $28.50.
NVT stock traded up $0.44 during mid-day trading on Tuesday, reaching $25.04. 1,917 shares of the stock traded hands, compared to its average volume of 1,079,397. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.41 and a current ratio of 1.96. nVent Electric has a 52 week low of $21.00 and a 52 week high of $29.84.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, October 18th.
In other nVent Electric news, Director William T. Monahan sold 17,133 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total transaction of $481,094.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Randall J. Hogan sold 21,082 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $25.35, for a total transaction of $534,428.70. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in shares of nVent Electric by 5.6% during the third quarter. Thrivent Financial for Lutherans now owns 39,052 shares of the company’s stock worth $1,061,000 after buying an additional 2,060 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of nVent Electric during the second quarter worth approximately $406,000. Arizona State Retirement System increased its holdings in shares of nVent Electric by 2.6% during the third quarter. Arizona State Retirement System now owns 115,685 shares of the company’s stock worth $3,142,000 after buying an additional 2,964 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of nVent Electric during the third quarter worth approximately $100,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of nVent Electric during the third quarter worth approximately $102,000. 85.77% of the stock is owned by institutional investors.
About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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