nVent Electric plc (NYSE:NVT) Short Interest Update

nVent Electric plc (NYSE:NVT) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,580,000 shares, a decline of 21.0% from the March 31st total of 2,000,000 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 1.2 days.

Insider Transactions at nVent Electric

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the sale, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 400,252 shares of company stock worth $25,713,777. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new stake in nVent Electric during the 1st quarter worth approximately $26,000. Quent Capital LLC grew its stake in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of nVent Electric during the first quarter worth $32,000. Livelsberger Financial Advisory acquired a new stake in shares of nVent Electric in the fourth quarter valued at $28,000. Finally, HM Payson & Co. purchased a new position in nVent Electric in the third quarter valued at $26,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Citigroup upped their target price on nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their price target on nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Barclays raised their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.60.

nVent Electric Trading Up 1.7 %

Shares of NVT stock traded up $1.25 during trading hours on Friday, hitting $75.69. The company had a trading volume of 1,053,277 shares, compared to its average volume of 1,285,885. nVent Electric has a fifty-two week low of $40.19 and a fifty-two week high of $78.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The company’s fifty day moving average is $71.51 and its 200 day moving average is $61.17. The stock has a market capitalization of $12.56 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.75 by $0.03. The business had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share. Research analysts expect that nVent Electric will post 3.24 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. nVent Electric’s dividend payout ratio (DPR) is presently 22.55%.

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.