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

nVent Electric plc (NYSE:NVT) Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

nVent Electric Stock Down 0.4 %

Shares of NYSE:NVT opened at $78.01 on Wednesday. The firm has a 50 day simple moving average of $73.11 and a 200 day simple moving average of $73.18. nVent Electric plc has a 52 week low of $52.26 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $12.86 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 4.03 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). The firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, research analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently made changes to their positions in NVT. Larson Financial Group LLC increased its holdings in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. UMB Bank n.a. raised its position in shares of nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC bought a new position in shares of nVent Electric in the third quarter valued at approximately $29,000. ORG Partners LLC acquired a new stake in shares of nVent Electric in the second quarter worth $31,000. Finally, First Foundation Advisors bought a new stake in shares of nVent Electric during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NVT shares. Royal Bank of Canada lowered their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Barclays lowered their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp lifted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company 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, nVent Electric presently has a consensus 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.