Insider Buying: nVent Electric plc (NYSE:NVT) Director Acquires 4,700 Shares of Stock

nVent Electric plc (NYSE:NVT – Get Rating) Director Greg Scheu acquired 4,700 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was acquired at an average price of $43.23 per share, with a total value of $203,181.00. Following the purchase, the director now owns 16,828 shares in the company, valued at approximately $727,474.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

nVent Electric Trading Up 6.4 %

Shares of nVent Electric stock opened at $43.58 on Friday. The company has a quick ratio of 1.47, a current ratio of 2.08 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $7.22 billion, a P/E ratio of 17.23 and a beta of 1.31. nVent Electric plc has a 12-month low of $29.19 and a 12-month high of $46.66. The company has a 50-day simple moving average of $42.21 and a 200 day simple moving average of $41.28.

nVent Electric (NYSE:NVT – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $740.70 million. nVent Electric had a net margin of 14.41% and a return on equity of 16.08%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Research analysts expect that nVent Electric plc will post 2.75 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 21st will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, July 20th. nVent Electric’s payout ratio is 27.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVT. Raymond James Financial Services Advisors Inc. boosted its stake in nVent Electric by 9.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock worth $383,000 after acquiring an additional 923 shares during the last quarter. AlphaCrest Capital Management LLC lifted its stake in nVent Electric by 36.8% in the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after buying an additional 3,093 shares in the last quarter. Natixis Advisors L.P. lifted its stake in nVent Electric by 15.4% in the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock valued at $1,514,000 after buying an additional 5,807 shares in the last quarter. Bank of Montreal Can lifted its stake in nVent Electric by 10.6% in the first quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock valued at $768,000 after buying an additional 2,072 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in nVent Electric by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock valued at $2,144,000 after buying an additional 5,879 shares in the last quarter. Institutional investors own 87.12% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of nVent Electric from $53.00 to $55.00 in a research report on Monday, May 1st. Royal Bank of Canada increased their target price on shares of nVent Electric from $50.00 to $53.00 in a research report on Monday.

About nVent Electric

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nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.