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

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

nVent Electric Trading Down 0.4 %

Shares of NYSE:NVT opened at $63.80 on Tuesday. nVent Electric plc has a 52-week low of $40.00 and a 52-week high of $66.09. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 18.93 and a beta of 1.33. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $58.51 and a 200-day moving average price of $54.89.

nVent Electric (NYSE:NVTGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm had revenue of $861.20 million during the quarter, compared to analysts’ expectations of $866.90 million. During the same period last year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities analysts predict that nVent Electric plc will post 3.22 EPS for the current year.

nVent Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Friday, January 19th were given a dividend of $0.19 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, January 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.55%.

Analyst Ratings Changes

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

Get Our Latest Stock Report on NVT

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Asset Management Inc. increased its position in shares of nVent Electric by 1.9% in the fourth quarter. Eagle Asset Management Inc. now owns 400,502 shares of the company’s stock valued at $23,666,000 after buying an additional 7,592 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of nVent Electric by 1.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 103,896 shares of the company’s stock worth $6,139,000 after acquiring an additional 1,655 shares during the last quarter. J. L. Bainbridge & Co. Inc. boosted its stake in shares of nVent Electric by 67.8% in the fourth quarter. J. L. Bainbridge & Co. Inc. now owns 299,517 shares of the company’s stock worth $17,698,000 after acquiring an additional 121,040 shares during the last quarter. Oliver Luxxe Assets LLC boosted its stake in shares of nVent Electric by 2.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 56,355 shares of the company’s stock worth $3,330,000 after acquiring an additional 1,202 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of nVent Electric by 112,340.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,622 shares of the company’s stock worth $332,000 after acquiring an additional 5,617 shares during the last quarter. 87.76% of the stock is currently owned by hedge funds and other institutional investors.

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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