nVent Electric plc (NYSE:NVT) EVP Jon D. Lammers Sells 67,297 Shares

nVent Electric plc (NYSE:NVT) EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

nVent Electric Stock Performance

nVent Electric stock opened at $77.79 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a fifty-two week low of $49.90 and a fifty-two week high of $86.57. The stock has a fifty day moving average of $69.83 and a two-hundred day moving average of $73.12. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 22.81, a PEG 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). The firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. On average, analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. nVent Electric’s payout ratio is 22.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NVT shares. 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. Barclays lowered their target price on 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 lifted their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and an average price target of $85.33.

Institutional Trading of nVent Electric

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