nVent Electric (NYSE:NVT) Stock: Insider Herbert Parker Purchases 3,000 Shares

nVent Electric PLC (NYSE:NVT) Director Herbert Parker purchased 3,000 shares of nVent Electric stock in a transaction dated Monday, November 9th. The shares were acquired at an average cost of $113.14 per share, with a total value of $339,420.00. Following the transaction, the director directly owned 19,853 shares in the company, valued at approximately $2,246,168.42. The trade was a 17.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

nVent Electric Stock Up 3.7%

NVT stock opened at $116.61 on Thursday. The stock has a market cap of $18.84 billion, a P/E ratio of 28.10, a PEG ratio of 0.57 and a beta of 1.39. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64. The business’s 50-day moving average price is $146.83 and its 200-day moving average price is $144.54. The company has a quick ratio of 1.93, a current ratio of 2.40 and a debt-to-equity ratio of 0.53.

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

nVent Electric Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVT. Wall Street Zen lowered nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. The Goldman Sachs Group reissued a “buy” rating and set a $200.00 price objective on shares of nVent Electric in a report on Saturday, August 1st. Royal Bank Of Canada increased their price target on shares of nVent Electric from $200.00 to $208.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. UBS Group reiterated a “buy” rating on shares of nVent Electric in a report on Tuesday, August 25th. Finally, Wells Fargo & Company boosted their price target on nVent Electric from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, nVent Electric presently has a consensus rating of “Buy” and an average target price of $197.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVT. Advisors Asset Management Inc. acquired a new stake in shares of nVent Electric in the third quarter valued at about $9,578,000. GW&K Investment Management LLC purchased a new stake in shares of nVent Electric in the third quarter valued at about $55,000. USS Investment Management Ltd grew its stake in shares of nVent Electric by 26.3% in the 3rd quarter. USS Investment Management Ltd now owns 7,200 shares of the company’s stock valued at $1,155,000 after buying an additional 1,500 shares during the period. Private Advisor Group LLC grew its position in nVent Electric by 23.6% in the third quarter. Private Advisor Group LLC now owns 11,486 shares of the company’s stock worth $1,842,000 after acquiring an additional 2,190 shares during the period. Finally, Independent Advisor Alliance lifted its position in nVent Electric by 14.1% in the third quarter. Independent Advisor Alliance now owns 2,268 shares of the company’s stock valued at $345,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

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.