nVent Electric plc (NYSE:NVT) EVP Jon D. Lammers Sells 67,297 Shares

nVent Electric plc (NYSE:NVT) EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

nVent Electric Stock Performance

NVT opened at $76.95 on Friday. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 3.97 and a beta of 1.26. The business’s 50-day moving average price is $70.23 and its two-hundred day moving average price is $73.19. nVent Electric plc has a 1 year low of $49.93 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. Equities analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NVT. Private Advisor Group LLC boosted its stake in shares of nVent Electric by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock worth $498,000 after buying an additional 382 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of nVent Electric by 3.2% during the 1st quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company’s stock worth $5,025,000 after purchasing an additional 2,064 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of nVent Electric by 92.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock worth $1,423,000 after purchasing an additional 9,081 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of nVent Electric by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after buying an additional 10,135 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in nVent Electric by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 145,204 shares of the company’s stock worth $10,948,000 after buying an additional 1,880 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NVT. Barclays lowered their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, KeyCorp boosted 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. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $85.33.

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.