Randolph A. Wacker Sells 8,022 Shares of nVent Electric plc (NYSE:NVT) Stock

nVent Electric plc (NYSE:NVT) CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

nVent Electric Trading Up 0.9 %

nVent Electric stock traded up $0.72 during trading on Thursday, hitting $77.79. The company’s stock had a trading volume of 3,224,314 shares, compared to its average volume of 1,583,623. The stock’s fifty day moving average is $69.83 and its 200 day moving average is $73.12. nVent Electric plc has a 1-year low of $49.90 and a 1-year high of $86.57. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.26. 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the company earned $0.84 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.98%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

NVT has been the subject of several research reports. Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. KeyCorp upped their price objective 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, Barclays dropped their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $85.33.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Swedbank AB purchased a new stake in nVent Electric during the third quarter valued at about $110,663,000. Millennium Management LLC grew its holdings in shares of nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after purchasing an additional 828,425 shares during the period. Massachusetts Financial Services Co. MA increased its position in nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares in the last quarter. HM Payson & Co. raised its holdings in nVent Electric by 109,496.5% in the third quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock valued at $30,801,000 after buying an additional 437,986 shares during the period. Finally, DigitalBridge Group Inc. purchased a new position in shares of nVent Electric in the 2nd quarter valued at $21,291,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.