Insider Selling: nVent Electric plc (NYSE:NVT) Director Sells 6,558 Shares of Stock

nVent Electric plc (NYSE:NVT) Director Jerry W. Burris sold 6,558 shares of the 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 transaction, the director now directly owns 45,040 shares in the company, 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 SEC, which can be accessed through the SEC website.

nVent Electric Stock Performance

Shares of NYSE:NVT traded down $0.33 during trading on Tuesday, hitting $78.01. 807,214 shares of the stock were exchanged, compared to its average volume of 1,587,706. nVent Electric plc has a 1-year low of $52.26 and a 1-year high of $86.57. The company has a market capitalization of $12.86 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26. The company’s fifty day simple moving average is $72.88 and its 200-day simple moving average is $73.20. 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. Sell-side analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Hedge Funds Weigh In On nVent Electric

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its position in nVent Electric by 22.0% in the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after purchasing an additional 155 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after acquiring an additional 166 shares during the last quarter. Larson Financial Group LLC raised its position in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Huntington National Bank grew its stake in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of nVent Electric by 15.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after purchasing an additional 272 shares during the period. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NVT shares. Royal Bank of Canada lowered their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. KeyCorp raised their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Barclays lowered their target price 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 research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average 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.