Randall J. Hogan Sells 97,388 Shares of nVent Electric plc (NYSE:NVT) Stock

nVent Electric plc (NYSE:NVTGet Rating) Director Randall J. Hogan sold 97,388 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $39.13, for a total transaction of $3,810,792.44. Following the sale, the director now directly owns 5,085 shares in the company, valued at $198,976.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

nVent Electric Stock Up 0.2 %

NVT stock opened at $40.06 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.88 and a quick ratio of 1.30. nVent Electric plc has a 52-week low of $29.19 and a 52-week high of $40.41. The company has a 50-day moving average of $34.97 and a two-hundred day moving average of $34.14. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 22.01 and a beta of 1.39.

nVent Electric (NYSE:NVTGet Rating) last released its quarterly earnings results on Friday, October 28th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. nVent Electric had a net margin of 10.86% and a return on equity of 14.69%. The company had revenue of $745.20 million during the quarter, compared to analysts’ expectations of $711.50 million. As a group, equities research analysts anticipate that nVent Electric plc will post 2.31 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 4th. Shareholders of record on Friday, October 21st were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, October 20th. nVent Electric’s dividend payout ratio (DPR) is 38.46%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in shares of nVent Electric by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 966,249 shares of the company’s stock valued at $33,605,000 after buying an additional 37,788 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of nVent Electric during the first quarter valued at about $332,000. Illinois Municipal Retirement Fund raised its position in shares of nVent Electric by 65.7% during the second quarter. Illinois Municipal Retirement Fund now owns 50,323 shares of the company’s stock valued at $1,577,000 after buying an additional 19,952 shares during the last quarter. Advisor Group Holdings Inc. raised its position in nVent Electric by 14.6% in the first quarter. Advisor Group Holdings Inc. now owns 99,569 shares of the company’s stock worth $3,403,000 after purchasing an additional 12,691 shares in the last quarter. Finally, Versor Investments LP acquired a new position in nVent Electric in the first quarter worth about $699,000. Institutional investors and hedge funds own 88.28% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the topic of several recent analyst reports. Barclays boosted their target price on shares of nVent Electric from $47.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, October 31st. Royal Bank of Canada boosted their price target on shares of nVent Electric from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Finally, Loop Capital started coverage on shares of nVent Electric in a report on Friday, October 7th. They set a “hold” rating and a $34.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.40.

nVent Electric Company Profile

(Get Rating)

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; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

Further Reading

Insider Buying and Selling by Quarter for nVent Electric (NYSE:NVT)

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