nVent Electric Sees Unusually Large Options Volume (NYSE:NVT)

nVent Electric plc (NYSE:NVT) was the target of some unusual options trading activity on Wednesday. Investors acquired 1,001 call options on the stock. This represents an increase of 1,200% compared to the average daily volume of 77 call options.

Several brokerages have recently weighed in on NVT. Wolfe Research upgraded shares of nVent Electric from a “peer perform” rating to an “outperform” rating and upped their target price for the company from $24.00 to $31.00 in a research note on Tuesday, December 8th. KeyCorp upped their price target on shares of nVent Electric from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, January 7th. BidaskClub cut shares of nVent Electric from a “buy” rating to a “hold” rating in a report on Tuesday, December 22nd. ValuEngine cut shares of nVent Electric from a “hold” rating to a “sell” rating in a report on Wednesday, December 16th. Finally, Zacks Investment Research cut shares of nVent Electric from a “hold” rating to a “sell” rating in a report on Tuesday, January 5th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. nVent Electric presently has a consensus rating of “Hold” and an average target price of $27.00.

NYSE NVT opened at $24.35 on Thursday. The firm’s fifty day simple moving average is $23.47 and its two-hundred day simple moving average is $20.14. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43. nVent Electric has a 12-month low of $10.53 and a 12-month high of $28.75. The firm has a market capitalization of $4.14 billion, a P/E ratio of -83.97, a P/E/G ratio of 3.32 and a beta of 1.54.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, October 30th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The business had revenue of $509.30 million for the quarter, compared to analyst estimates of $494.58 million. nVent Electric had a negative net margin of 2.39% and a positive return on equity of 10.35%. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. As a group, sell-side analysts predict that nVent Electric will post 1.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 5th. Stockholders of record on Friday, January 22nd will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Thursday, January 21st. nVent Electric’s payout ratio is 39.33%.

In other news, Director Ronald Merriman sold 4,225 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $19.00, for a total value of $80,275.00. Following the completion of the transaction, the director now directly owns 33,606 shares in the company, valued at $638,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.79% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of nVent Electric by 5.5% in the second quarter. Vanguard Group Inc. now owns 15,660,322 shares of the company’s stock valued at $293,319,000 after acquiring an additional 810,848 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of nVent Electric by 70.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,657,654 shares of the company’s stock worth $29,324,000 after purchasing an additional 683,534 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in nVent Electric by 24.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,923,394 shares of the company’s stock valued at $34,024,000 after acquiring an additional 371,964 shares during the period. Crawford Investment Counsel Inc. increased its stake in nVent Electric by 50.2% during the third quarter. Crawford Investment Counsel Inc. now owns 1,024,583 shares of the company’s stock valued at $18,125,000 after acquiring an additional 342,296 shares during the period. Finally, AJO LP bought a new position in nVent Electric during the third quarter valued at about $5,634,000. 81.46% of the stock is currently owned by institutional investors.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Western and Eastern Europe included in European Union, China, Eastern Europe not included in European Union, Latin America, the Middle East, Southeast Asia, Australia, and Japan.

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