Jerry W. Burris Sells 6,558 Shares of nVent Electric plc (NYSE:NVT) Stock

nVent Electric plc (NYSE:NVT) Director Jerry W. Burris sold 6,558 shares of the 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 completion of the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

nVent Electric Price Performance

NVT stock opened at $76.53 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $12.61 billion, a P/E ratio of 22.44, a PEG ratio of 4.03 and a beta of 1.26. The business has a 50 day simple moving average of $73.30 and a 200-day simple moving average of $73.20. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the previous year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its stake in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Tidal Investments LLC raised its position in nVent Electric by 42.0% during the 3rd quarter. Tidal Investments LLC now owns 46,016 shares of the company’s stock worth $3,233,000 after buying an additional 13,621 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in nVent Electric during the 3rd quarter worth $124,000. World Investment Advisors LLC purchased a new stake in shares of nVent Electric in the third quarter valued at about $314,000. Finally, TT International Asset Management LTD boosted its holdings in shares of nVent Electric by 550.2% in the third quarter. TT International Asset Management LTD now owns 90,019 shares of the company’s stock valued at $6,324,000 after acquiring an additional 76,175 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVT. Royal Bank of Canada cut their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Barclays cut their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has an average rating of “Buy” and an average target price of $85.33.

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.