nVent Electric (NYSE:NVT) Sets New 1-Year High – Should You Buy?

nVent Electric PLC (NYSE:NVT)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $136.29 and last traded at $135.7010, with a volume of 1264400 shares trading hands. The stock had previously closed at $134.69.

Analysts Set New Price Targets

NVT has been the subject of a number of analyst reports. Zacks Research lowered nVent Electric from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Evercore initiated coverage on nVent Electric in a research note on Monday, April 13th. They set an “outperform” rating and a $160.00 price objective for the company. Weiss Ratings raised nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 11th. Roth Mkm increased their price objective on nVent Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Finally, Barclays increased their price objective on nVent Electric from $141.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.00.

nVent Electric Price Performance

The business has a 50 day moving average of $118.77 and a 200 day moving average of $110.48. The company has a market cap of $21.94 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Saturday, February 7th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The firm’s revenue was up 41.9% on a year-over-year basis. As a group, research analysts predict that nVent Electric PLC will post 4.15 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.6%. nVent Electric’s dividend payout ratio (DPR) is presently 19.53%.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 5,244 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the sale, the director owned 46,371 shares of the company’s stock, valued at $5,206,072.17. This trade represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Beth Wozniak sold 7,597 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the sale, the chief executive officer directly owned 52,990 shares of the company’s stock, valued at $6,171,745.30. The trade was a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,841 shares of company stock valued at $2,046,166 over the last quarter. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On nVent Electric

A number of institutional investors have recently added to or reduced their stakes in NVT. Global Trust Asset Management LLC bought a new position in nVent Electric in the third quarter worth $30,000. Root Financial Partners LLC bought a new position in nVent Electric in the third quarter worth $31,000. Manchester Capital Management LLC raised its holdings in nVent Electric by 128.1% in the fourth quarter. Manchester Capital Management LLC now owns 308 shares of the company’s stock worth $31,000 after purchasing an additional 173 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in nVent Electric in the fourth quarter worth $32,000. Finally, Advisory Services Network LLC bought a new position in nVent Electric in the third quarter worth $35,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.