nVent Electric Target of Unusually Large Options Trading (NYSE:NVT)

nVent Electric plc (NYSE:NVT) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 7,753 put options on the company. This is an increase of approximately 1,142% compared to the typical volume of 624 put options.

nVent Electric Stock Performance

Shares of nVent Electric stock traded down $0.56 on Tuesday, hitting $74.51. 135,987 shares of the company’s stock were exchanged, compared to its average volume of 1,566,632. nVent Electric has a 1 year low of $55.19 and a 1 year high of $86.57. The company has a 50-day simple moving average of $74.44 and a 200-day simple moving average of $72.89. The stock has a market capitalization of $12.28 billion, a PE ratio of 22.01, a PEG ratio of 3.96 and a beta of 1.25. 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 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. nVent Electric’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that nVent Electric will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Buying and Selling at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On nVent Electric

A number of hedge funds have recently bought and sold shares of the business. Swedbank AB bought a new position in shares of nVent Electric during the third quarter valued at approximately $110,663,000. Franklin Resources Inc. grew its stake in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of nVent Electric by 159.9% in the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after buying an additional 828,425 shares during the period. Clean Energy Transition LLP lifted its stake in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after acquiring an additional 813,909 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after purchasing an additional 673,990 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup lifted their price target on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a report on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $85.50.

About nVent Electric

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.