nVent Electric plc (NYSE:NVT) Director Sells $524,640.00 in Stock

nVent Electric plc (NYSE:NVT) 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 transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

nVent Electric Price Performance

Shares of NVT stock traded down $0.33 during midday trading on Tuesday, reaching $78.01. 807,214 shares of the company were exchanged, compared to its average volume of 1,587,706. The company’s 50 day moving average price is $72.88 and its two-hundred day moving average price is $73.20. The company has a market cap of $12.86 billion, a P/E ratio of 22.99, a PEG ratio of 4.03 and a beta of 1.26. nVent Electric plc has a 12 month low of $52.26 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the company earned $0.84 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

Hedge Funds Weigh In On nVent Electric

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. lifted its stake in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of nVent Electric by 18.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after purchasing an additional 46,748 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of nVent Electric by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares in the last quarter. Gateway Investment Advisers LLC purchased a new stake in shares of nVent Electric during the 2nd quarter worth about $1,608,000. Finally, Virtu Financial LLC purchased a new stake in shares of nVent Electric during the 1st quarter worth about $1,125,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays cut their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $85.33.

nVent Electric Company Profile

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.