nVent Electric (NYSE:NVT) Director Herbert Parker Acquires 3,000 Shares of Company Stock

nVent Electric PLC (NYSE:NVT) Director Herbert Parker acquired 3,000 shares of nVent Electric stock in a transaction that occurred on Monday, November 9th. The stock was bought at an average price of $113.14 per share, for a total transaction of $339,420.00. Following the completion of the acquisition, the director owned 19,853 shares in the company, valued at $2,246,168.42. This trade represents a 17.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

nVent Electric Trading Down 1.8%

NYSE NVT opened at $112.41 on Wednesday. The firm’s 50-day moving average is $147.43 and its two-hundred day moving average is $144.51. nVent Electric PLC has a 12 month low of $93.22 and a 12 month high of $184.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.40 and a quick ratio of 1.93. The stock has a market capitalization of $18.17 billion, a P/E ratio of 23.07, a PEG ratio of 0.58 and a beta of 1.39.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, October 30th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.91 earnings per share. nVent Electric’s revenue was up 43.7% compared to the same quarter last year. On average, sell-side analysts anticipate that nVent Electric PLC will post 5.36 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, October 23rd. nVent Electric’s dividend payout ratio is currently 20.24%.

Institutional Trading of nVent Electric

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in nVent Electric by 4.9% during the 2nd quarter. State Street Corp now owns 5,313,122 shares of the company’s stock worth $901,159,000 after acquiring an additional 250,248 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in nVent Electric by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock worth $238,758,000 after buying an additional 68,818 shares during the last quarter. First Trust Advisors LP lifted its holdings in nVent Electric by 32.8% during the 1st quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock worth $200,647,000 after buying an additional 419,239 shares during the last quarter. Amundi increased its holdings in shares of nVent Electric by 146.8% in the 1st quarter. Amundi now owns 1,092,802 shares of the company’s stock valued at $129,257,000 after acquiring an additional 649,992 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of nVent Electric by 58.9% in the 3rd quarter. Bessemer Group Inc. now owns 752,953 shares of the company’s stock valued at $120,751,000 after acquiring an additional 278,967 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of several research reports. Weiss Ratings downgraded shares of nVent Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Zacks Research raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Wall Street Zen downgraded shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Citigroup cut their price objective on nVent Electric from $228.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, November 2nd. Finally, JPMorgan Chase & Co. started coverage on nVent Electric in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $167.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus price target of $197.82.

About nVent Electric

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.