Insider Selling: nVent Electric plc (NYSE:NVT) Director Sells 184,572 Shares of Stock

nVent Electric plc (NYSE:NVTGet Free Report) Director Randall J. Hogan sold 184,572 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

nVent Electric Stock Down 0.4 %

Shares of NYSE:NVT traded down $0.25 on Monday, hitting $63.80. 801,370 shares of the company’s stock were exchanged, compared to its average volume of 1,207,392. The firm’s 50-day moving average is $58.33 and its 200 day moving average is $54.81. The company has a market capitalization of $10.59 billion, a PE ratio of 19.03 and a beta of 1.33. nVent Electric plc has a 1-year low of $40.00 and a 1-year high of $66.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82.

nVent Electric (NYSE:NVTGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm had revenue of $861.20 million during the quarter, compared to the consensus estimate of $866.90 million. During the same period last year, the business posted $0.66 EPS. nVent Electric’s quarterly revenue was up 16.1% on a year-over-year basis. Sell-side analysts predict that nVent Electric plc will post 3.22 EPS for the current year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Friday, January 19th were given a $0.19 dividend. This is a positive change from nVent Electric’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, January 18th. nVent Electric’s dividend payout ratio (DPR) is 22.55%.

Institutional Investors Weigh In On nVent Electric

A number of large investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its holdings in nVent Electric by 3.2% during the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after acquiring an additional 191 shares in the last quarter. State of Michigan Retirement System increased its holdings in nVent Electric by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after buying an additional 200 shares during the last quarter. Cetera Advisors LLC raised its stake in nVent Electric by 4.0% during the second quarter. Cetera Advisors LLC now owns 5,368 shares of the company’s stock valued at $277,000 after buying an additional 208 shares in the last quarter. Quent Capital LLC lifted its holdings in nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in nVent Electric by 1.9% during the 2nd quarter. Inspire Investing LLC now owns 12,371 shares of the company’s stock worth $639,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVT. Barclays cut their price objective on nVent Electric from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Royal Bank of Canada lifted their price target on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, Citigroup boosted their price objective on nVent Electric from $59.00 to $64.00 and gave the company a “buy” rating in a report on Monday, December 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, nVent Electric currently has an average rating of “Moderate Buy” and a consensus target price of $64.75.

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About nVent Electric

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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; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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

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