Zacks Investment Research Lowers nVent Electric (NVT) to Sell

Zacks Investment Research lowered shares of nVent Electric (NYSE:NVT) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “nVent Electric plc provider of electrical connection and protection solutions which design, manufacture, market, install and service that connect and protect equipment, buildings and critical processes. The company’s operating segments consists of Enclosures, Thermal Management and Electrical & Fastening Solutions. nVent Electric plc is based in London, the United Kingdom. “

A number of other research analysts have also recently issued reports on the company. Goldman Sachs Group raised nVent Electric from a neutral rating to a buy rating and cut their price target for the company from $31.00 to $30.00 in a report on Friday, October 26th. Barclays reaffirmed a hold rating and issued a $25.00 price target on shares of nVent Electric in a report on Friday, July 27th. Finally, Vertical Research started coverage on nVent Electric in a report on Tuesday, November 20th. They issued a hold rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $28.50.

nVent Electric stock opened at $25.20 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.34. nVent Electric has a 12-month low of $21.00 and a 12-month high of $29.84.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.07). The company had revenue of $563.90 million during the quarter, compared to analyst estimates of $558.40 million. On average, analysts predict that nVent Electric will post 1.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were issued a $0.175 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.78%.

In other nVent Electric news, Director William T. Monahan sold 17,133 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was 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 through this link. Also, Director Randall J. Hogan sold 21,082 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $25.35, for a total value of $534,428.70. The disclosure for this sale can be found here.

A number of large investors have recently made changes to their positions in NVT. Farmers & Merchants Investments Inc. bought a new stake in nVent Electric during the 3rd quarter worth about $100,000. Stratos Wealth Partners LTD. bought a new stake in nVent Electric during the 3rd quarter worth about $102,000. First Bank & Trust bought a new stake in nVent Electric during the 2nd quarter worth about $105,000. TRUE Private Wealth Advisors bought a new stake in nVent Electric during the 3rd quarter worth about $114,000. Finally, Moneta Group Investment Advisors LLC bought a new stake in nVent Electric during the 2nd quarter worth about $133,000. 85.77% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Company Profile

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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