nVent Electric plc (NYSE:NVT) Director Randall J. Hogan Sells 97,388 Shares

nVent Electric plc (NYSE:NVTGet Rating) Director Randall J. Hogan sold 97,388 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $39.13, for a total transaction of $3,810,792.44. Following the completion of the transaction, the director now owns 5,085 shares of the company’s stock, valued at approximately $198,976.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

nVent Electric Stock Performance

Shares of NVT stock opened at $40.06 on Thursday. The firm has a market cap of $6.67 billion, a P/E ratio of 22.01 and a beta of 1.39. nVent Electric plc has a one year low of $29.19 and a one year high of $40.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 1.88. The firm’s 50 day moving average price is $34.85 and its 200-day moving average price is $34.10.

nVent Electric (NYSE:NVTGet Rating) last released its earnings results on Friday, October 28th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $745.20 million for the quarter, compared to analyst estimates of $711.50 million. nVent Electric had a net margin of 10.86% and a return on equity of 14.69%. As a group, equities research analysts predict that nVent Electric plc will post 2.31 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 4th. Shareholders of record on Friday, October 21st were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, October 20th. This represents a $0.70 dividend on an annualized basis and a yield of 1.75%. nVent Electric’s dividend payout ratio (DPR) is presently 38.46%.

Institutional Investors Weigh In On nVent Electric

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in nVent Electric by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 966,249 shares of the company’s stock worth $33,605,000 after buying an additional 37,788 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of nVent Electric in the 1st quarter valued at $332,000. Illinois Municipal Retirement Fund raised its holdings in shares of nVent Electric by 65.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 50,323 shares of the company’s stock valued at $1,577,000 after purchasing an additional 19,952 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of nVent Electric by 14.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 99,569 shares of the company’s stock valued at $3,403,000 after purchasing an additional 12,691 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of nVent Electric in the 1st quarter valued at $699,000. 88.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVT has been the subject of several research analyst reports. Loop Capital initiated coverage on shares of nVent Electric in a research report on Friday, October 7th. They set a “hold” rating and a $34.00 price target for the company. Barclays upped their price target on shares of nVent Electric from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, October 31st. Finally, Royal Bank of Canada upped their price objective on shares of nVent Electric from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.40.

nVent Electric Company Profile

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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; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

Further Reading

Insider Buying and Selling by Quarter for nVent Electric (NYSE:NVT)

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