nVent Electric plc (NYSE:NVT) CFO Sells $1,113,403.80 in Stock

nVent Electric plc (NYSE:NVT) CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

nVent Electric Trading Down 1.5 %

NYSE:NVT opened at $72.81 on Friday. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57. The stock has a market cap of $12.00 billion, a P/E ratio of 21.35, a P/E/G ratio of 3.94 and a beta of 1.26. 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 stock has a 50-day simple moving average of $71.18 and a 200-day simple moving average of $73.24.

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

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given 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 1.04%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of nVent Electric during the third quarter worth about $110,663,000. 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. Clean Energy Transition LLP grew its holdings in shares of nVent Electric by 56.5% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA grew 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 valued at $374,201,000 after purchasing an additional 673,990 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after acquiring an additional 466,042 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of several research analyst reports. KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada decreased their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, Barclays cut their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.