Beth Wozniak Sells 198,211 Shares of nVent Electric plc (NYSE:NVT) Stock

nVent Electric plc (NYSE:NVTGet Free Report) CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

nVent Electric Price Performance

NVT stock opened at $63.80 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. nVent Electric plc has a one year low of $40.00 and a one year high of $66.09. The stock has a market cap of $10.59 billion, a PE ratio of 18.93 and a beta of 1.33. The firm has a 50 day simple moving average of $58.51 and a two-hundred day simple moving average of $54.89.

nVent Electric (NYSE:NVTGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business had revenue of $861.20 million during the quarter, compared to analysts’ expectations of $866.90 million. During the same quarter in the previous year, the company earned $0.66 EPS. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, analysts predict that nVent Electric plc will post 3.22 EPS for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Friday, January 19th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.19%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, January 18th. nVent Electric’s payout ratio is presently 22.55%.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds have recently made changes to their positions in NVT. Quent Capital LLC lifted its holdings in shares of nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares during the last quarter. HM Payson & Co. bought a new stake in shares of nVent Electric in the 3rd quarter worth approximately $26,000. Arlington Trust Co LLC bought a new stake in shares of nVent Electric in the 3rd quarter worth approximately $30,000. Coppell Advisory Solutions LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth approximately $31,000. Finally, Pacific Center for Financial Services bought a new stake in shares of nVent Electric in the 3rd quarter worth approximately $32,000. 87.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVT. Citigroup boosted their price objective on shares of nVent Electric from $59.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Barclays reduced their price objective on shares of nVent Electric from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.75.

Check Out Our Latest Research Report on nVent Electric

nVent Electric Company Profile

(Get Free Report)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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