Randall J. Hogan Sells 21,060 Shares of nVent Electric plc (NYSE:NVT) Stock

nVent Electric plc (NYSE:NVT) Director Randall J. Hogan sold 21,060 shares of the business’s stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $31.61, for a total value of $665,706.60. Following the transaction, the director now owns 193,824 shares of the company’s stock, valued at $6,126,776.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NYSE:NVT opened at $31.52 on Wednesday. nVent Electric plc has a 52-week low of $15.60 and a 52-week high of $32.34. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.41 and a current ratio of 1.99. The firm has a market capitalization of $5.29 billion, a P/E ratio of -108.69 and a beta of 1.53. The stock has a 50 day moving average price of $29.35 and a 200-day moving average price of $25.06.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, April 29th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.08. nVent Electric had a positive return on equity of 10.35% and a negative net margin of 2.39%. On average, equities analysts forecast that nVent Electric plc will post 1.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 7th. Investors of record on Friday, April 23rd were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, April 22nd. nVent Electric’s dividend payout ratio (DPR) is presently 39.33%.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in nVent Electric by 3.4% during the 1st quarter. BlackRock Inc. now owns 14,500,404 shares of the company’s stock valued at $404,706,000 after purchasing an additional 472,134 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in nVent Electric by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,647,817 shares of the company’s stock valued at $84,958,000 after purchasing an additional 36,605 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in nVent Electric by 21.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,641,515 shares of the company’s stock valued at $73,720,000 after purchasing an additional 473,687 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in nVent Electric by 273.2% during the 4th quarter. Nuveen Asset Management LLC now owns 2,307,193 shares of the company’s stock valued at $53,734,000 after purchasing an additional 1,688,904 shares during the last quarter. Finally, Clark Capital Management Group Inc. purchased a new stake in nVent Electric during the 4th quarter valued at $51,919,000. 85.88% of the stock is owned by institutional investors.

A number of equities analysts have recently issued reports on NVT shares. Barclays upped their price objective on nVent Electric from $39.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, May 3rd. KeyCorp increased their target price on nVent Electric from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, May 6th. Rosenblatt Securities upped their price target on nVent Electric from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada upped their price target on nVent Electric from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, March 4th. Finally, Zacks Investment Research raised nVent Electric from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Wednesday, April 28th. Six research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $35.17.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Western and Eastern Europe included in European Union, China, Eastern Europe not included in European Union, Latin America, the Middle East, Southeast Asia, Australia, and Japan.

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