nVent Electric (NYSE:NVT) Shares Gap Down - Time to Sell?

nVent Electric plc (NYSE:NVT - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $74.83, but opened at $67.50. nVent Electric shares last traded at $65.87, with a volume of 919,123 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVT. Barclays raised their price target on nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. KeyCorp boosted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price target on shares of nVent Electric from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, Citigroup lowered their price objective on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $86.17.

nVent Electric Price Performance

The company has a market capitalization of $10.56 billion, a PE ratio of 18.79, a P/E/G ratio of 3.49 and a beta of 1.27. The stock has a 50 day moving average price of $72.67 and a two-hundred day moving average price of $70.88. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Equities analysts forecast that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, January 17th. This is an increase from nVent Electric's previous quarterly dividend of $0.19. nVent Electric's dividend payout ratio (DPR) is 23.46%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares of the company's stock, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On nVent Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its holdings in nVent Electric by 52.1% in the second quarter. Bank of Montreal Can now owns 106,410 shares of the company's stock worth $8,251,000 after purchasing an additional 36,433 shares during the period. Squarepoint Ops LLC acquired a new stake in nVent Electric during the 2nd quarter worth $2,496,000. MBB Public Markets I LLC bought a new position in nVent Electric during the second quarter worth about $733,000. Scientech Research LLC bought a new position in nVent Electric during the second quarter worth about $244,000. Finally, Susquehanna Fundamental Investments LLC grew its stake in nVent Electric by 257.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 17,495 shares of the company's stock valued at $1,340,000 after acquiring an additional 12,595 shares during the period. 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.