Zacks Investment Research Downgrades nVent Electric (NVT) to Sell

nVent Electric (NYSE:NVT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

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 equities analysts also recently commented on the company. Goldman Sachs Group upgraded nVent Electric from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $31.00 to $30.00 in a research note on Friday, October 26th. Vertical Research started coverage on nVent Electric in a research note 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 given a hold rating and four have assigned a buy rating to the stock. nVent Electric currently has a consensus rating of “Hold” and an average price target of $28.50.

Shares of NYSE NVT opened at $25.02 on Friday. nVent Electric has a 1 year low of $21.00 and a 1 year high of $29.84. 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 (NYSE:NVT) last announced its 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 firm had revenue of $563.90 million during the quarter, compared to analyst estimates of $558.40 million. As a group, analysts forecast that nVent Electric will post 1.75 earnings per share for the current fiscal year.

In related news, Director Randall J. Hogan sold 21,082 shares of nVent Electric 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William T. Monahan sold 17,133 shares of nVent Electric stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $28.08, for a total value of $481,094.64. The disclosure for this sale can be found here.

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new position in nVent Electric in the second quarter valued at approximately $406,000. Farmers & Merchants Investments Inc. acquired a new position in nVent Electric in the third quarter valued at approximately $100,000. Stratos Wealth Partners LTD. acquired a new position in nVent Electric in the third quarter valued at approximately $102,000. TRUE Private Wealth Advisors acquired a new position in nVent Electric in the third quarter valued at approximately $114,000. Finally, Moneta Group Investment Advisors LLC acquired a new position in nVent Electric in the second quarter valued at approximately $133,000. Institutional investors own 85.77% of the company’s stock.

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.

See Also: What do investors mean by earnings per share?

Get a free copy of the Zacks research report on nVent Electric (NVT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for nVent Electric (NYSE:NVT)

Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit