nVent Electric plc (NYSE:NVT) CAO Sells $608,629.14 in Stock

nVent Electric plc (NYSE:NVT) CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

nVent Electric Price Performance

NVT stock traded up $0.72 during trading hours on Thursday, hitting $77.79. 3,224,314 shares of the stock traded hands, compared to its average volume of 1,583,623. 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 stock has a 50-day simple moving average of $69.83 and a 200 day simple moving average of $73.12. nVent Electric plc has a one year low of $49.90 and a one year high of $86.57. The company has a market cap of $12.82 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced 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 during the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.98%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Hedge Funds Weigh In On nVent Electric

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC boosted its position in shares of nVent Electric by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock valued at $498,000 after purchasing an additional 382 shares during the period. BNP Paribas Financial Markets increased its position in shares of nVent Electric by 3.2% in the first quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company’s stock worth $5,025,000 after acquiring an additional 2,064 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of nVent Electric by 92.7% during the first quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock valued at $1,423,000 after acquiring an additional 9,081 shares during the period. Nordea Investment Management AB lifted its position in shares of nVent Electric by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after acquiring an additional 10,135 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in nVent Electric by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 145,204 shares of the company’s stock worth $10,948,000 after purchasing an additional 1,880 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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