Insider Selling: nVent Electric plc (NYSE:NVT) CFO Sells 14,505 Shares of Stock

nVent Electric plc (NYSE:NVT) CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

nVent Electric Trading Up 0.8 %

Shares of NYSE NVT opened at $76.60 on Thursday. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The firm has a market cap of $12.62 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.91 and a beta of 1.26. The business has a fifty day simple moving average of $70.67 and a two-hundred day simple moving average of $73.21. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 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 company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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

Analyst Ratings Changes

NVT has been the subject of several recent analyst reports. Barclays dropped their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price objective 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. Finally, KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $85.33.

Hedge Funds Weigh In On nVent Electric

A number of large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its holdings in nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after acquiring an additional 673,990 shares in the last quarter. Boston Partners raised its holdings in shares of nVent Electric by 3.2% during the first quarter. Boston Partners now owns 3,325,834 shares of the company’s stock worth $250,770,000 after purchasing an additional 102,643 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of nVent Electric by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after buying an additional 28,876 shares during the last quarter. Swedbank AB acquired a new position in nVent Electric in the third quarter valued at approximately $110,663,000. Finally, Millennium Management LLC boosted its holdings in nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after buying an additional 828,425 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

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.