nVent Electric Target of Unusually Large Options Trading (NYSE:NVT)

nVent Electric plc (NYSE:NVT) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 7,753 put options on the stock. This represents an increase of 1,142% compared to the average volume of 624 put options.

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On nVent Electric

Several large investors have recently made changes to their positions in the company. Cetera Advisors LLC boosted its position in nVent Electric by 58.6% during the first quarter. Cetera Advisors LLC now owns 8,596 shares of the company’s stock worth $648,000 after purchasing an additional 3,177 shares during the period. CWM LLC boosted its position in nVent Electric by 132.0% during the second quarter. CWM LLC now owns 2,513 shares of the company’s stock worth $193,000 after purchasing an additional 1,430 shares during the period. QRG Capital Management Inc. boosted its position in nVent Electric by 22.7% during the second quarter. QRG Capital Management Inc. now owns 3,938 shares of the company’s stock worth $302,000 after purchasing an additional 729 shares during the period. Sequoia Financial Advisors LLC boosted its position in nVent Electric by 3.5% during the second quarter. Sequoia Financial Advisors LLC now owns 42,539 shares of the company’s stock worth $3,259,000 after purchasing an additional 1,426 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in nVent Electric by 2.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,445 shares of the company’s stock worth $2,332,000 after purchasing an additional 657 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $75.32 on Thursday. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 3.96 and a beta of 1.25. nVent Electric has a fifty-two week low of $55.19 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The business’s 50-day moving average is $74.69 and its 200-day moving average is $72.83.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. Equities research analysts expect that nVent Electric will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. nVent Electric’s payout ratio is 22.29%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NVT shares. Citigroup boosted their price objective on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a report on Monday. KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada dropped their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Barclays upped their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $85.50.

About nVent Electric

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.