nVent Electric plc (NYSE:NVT) Sees Large Growth in Short Interest

nVent Electric plc (NYSE:NVT) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 6,310,000 shares, an increase of 33.1% from the January 31st total of 4,740,000 shares. Based on an average trading volume of 1,850,000 shares, the short-interest ratio is presently 3.4 days. Approximately 3.9% of the company’s shares are sold short.

nVent Electric Stock Down 2.2 %

Shares of NVT stock traded down $1.23 during mid-day trading on Tuesday, reaching $55.12. 2,354,262 shares of the company’s stock traded hands, compared to its average volume of 1,680,222. nVent Electric has a 12 month low of $53.35 and a 12 month high of $86.57. The company has a market cap of $9.10 billion, a P/E ratio of 28.12, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $67.19 and its 200-day moving average price is $69.99.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities analysts expect that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Institutional Trading of nVent Electric

A number of hedge funds have recently modified their holdings of NVT. Siemens Fonds Invest GmbH purchased a new position in shares of nVent Electric in the 4th quarter worth about $75,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric in the 4th quarter worth about $38,000. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric in the 4th quarter worth about $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of nVent Electric by 145.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock worth $99,961,000 after purchasing an additional 869,906 shares during the last quarter. Finally, Waverly Advisors LLC raised its position in shares of nVent Electric by 1.1% in the 4th quarter. Waverly Advisors LLC now owns 78,884 shares of the company’s stock worth $5,377,000 after purchasing an additional 828 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays cut their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada lifted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Company Profile

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.