Are Computer and Technology Stocks Lagging nVent Electric (NVT) This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has nVent Electric (NVT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

nVent Electric is one of 656 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. nVent Electric is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for NVT's full-year earnings has moved 4.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, NVT has returned 0.8% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 37.6% on average. This means that nVent Electric is performing better than its sector in terms of year-to-date returns.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Richardson Electronics (RELL). The stock has returned 72.9% year-to-date.

In Richardson Electronics' case, the consensus EPS estimate for the current year increased 22.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, nVent Electric belongs to the Electronics - Miscellaneous Components industry, which includes 28 individual stocks and currently sits at #141 in the Zacks Industry Rank. Stocks in this group have lost about 30.9% so far this year, so NVT is performing better this group in terms of year-to-date returns.

On the other hand, Richardson Electronics belongs to the Electronics - Parts Distribution industry. This 4-stock industry is currently ranked #22. The industry has moved -11.9% year to date.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to nVent Electric and Richardson Electronics as they could maintain their solid performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.