Insider Selling: nVent Electric plc (NYSE:NVT) Director Sells 6,558 Shares of Stock

nVent Electric plc (NYSE:NVT) Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

nVent Electric Price Performance

Shares of NVT stock opened at $78.01 on Wednesday. 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 plc has a 12 month low of $52.26 and a 12 month high of $86.57. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 4.03 and a beta of 1.26. The stock has a 50-day moving average price of $73.11 and a 200 day moving average price of $73.18.

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

nVent Electric Announces Dividend

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. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is presently 22.29%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NVT shares. Barclays lowered their price objective on 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 shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, KeyCorp raised 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $85.33.

Institutional Trading of nVent Electric

A number of large investors have recently made changes to their positions in the company. Swedbank AB acquired a new position in shares of nVent Electric in the 3rd quarter valued at approximately $110,663,000. Millennium Management LLC boosted its holdings in shares of nVent Electric by 159.9% in the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after buying an additional 828,425 shares during the period. Clean Energy Transition LLP increased its position in shares of nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after acquiring an additional 813,909 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of nVent Electric by 16.0% during 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 during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of nVent Electric by 23.6% during the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after acquiring an additional 466,042 shares during the period. Institutional investors own 90.05% of the company’s stock.

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.