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

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 brokerages have also weighed in on NVT. Barclays restated a “hold” rating and issued a $25.00 price objective on shares of nVent Electric in a report on Friday, July 27th. Goldman Sachs Group upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $31.00 to $30.00 in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.60.

NYSE NVT traded up $0.03 during mid-day trading on Tuesday, reaching $26.84. The stock had a trading volume of 1,603 shares, compared to its average volume of 1,378,569. nVent Electric has a 1 year low of $21.00 and a 1 year high of $29.84. 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 (NYSE:NVT) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.07). The company had revenue of $563.90 million for the quarter, compared to the consensus estimate of $558.40 million. On average, sell-side analysts forecast that nVent Electric will post 1.75 EPS for the current fiscal year.

In other nVent Electric news, Director William T. Monahan sold 17,133 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randall J. Hogan sold 21,082 shares of the business’s stock in a transaction on Monday, November 5th. The shares were 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.

A number of institutional investors and hedge funds have recently made changes to their positions in NVT. Farmers & Merchants Investments Inc. purchased a new stake in nVent Electric during the 3rd quarter valued at $100,000. Stratos Wealth Partners LTD. purchased a new stake in nVent Electric during the 3rd quarter valued at $102,000. First Bank & Trust purchased a new stake in nVent Electric during the 2nd quarter valued at $105,000. Kohmann Bosshard Financial Services LLC purchased a new stake in nVent Electric during the 2nd quarter valued at $113,000. Finally, TRUE Private Wealth Advisors purchased a new stake in nVent Electric during the 3rd quarter valued at $114,000. Institutional investors and hedge funds own 81.17% of the company’s stock.

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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