nVent Electric (NYSE:NVT) Director Herbert Parker Buys 3,000 Shares of Company Stock

nVent Electric PLC (NYSE:NVT) Director Herbert Parker bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $113.14 per share, with a total value of $339,420.00. Following the completion of the purchase, the director owned 19,853 shares of the company’s stock, valued at approximately $2,246,168.42. The trade was a 17.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

nVent Electric Price Performance

NYSE:NVT traded down $2.03 during trading hours on Tuesday, reaching $112.41. 2,388,418 shares of the company’s stock were exchanged, compared to its average volume of 2,344,592. The company has a market capitalization of $18.17 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 0.57 and a beta of 1.39. nVent Electric PLC has a 12 month low of $93.22 and a 12 month high of $184.64. The company has a quick ratio of 1.93, a current ratio of 2.40 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $148.20 and its two-hundred day simple moving average is $144.50.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.12. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.43 billion. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The firm’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. Sell-side analysts expect that nVent Electric PLC will post 5.36 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. nVent Electric’s dividend payout ratio (DPR) is currently 20.24%.

Institutional Investors Weigh In On nVent Electric

A number of large investors have recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new position in nVent Electric in the 3rd quarter worth approximately $28,000. Aberdeen Group plc purchased a new position in nVent Electric during the 3rd quarter worth approximately $32,000. Provenance Wealth Advisors LLC purchased a new position in nVent Electric during the 3rd quarter worth approximately $36,000. Elevation Wealth Partners LLC grew its position in nVent Electric by 554.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 216 shares of the company’s stock worth $37,000 after purchasing an additional 183 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in nVent Electric by 236.1% during the 2nd quarter. MCF Advisors LLC now owns 242 shares of the company’s stock valued at $41,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of recent research reports. Evercore restated an “outperform” rating and issued a $210.00 target price on shares of nVent Electric in a report on Monday, August 3rd. JPMorgan Chase & Co. assumed coverage on nVent Electric in a report on Tuesday, October 20th. They set an “overweight” rating and a $167.00 target price for the company. Citigroup reduced their target price on nVent Electric from $228.00 to $200.00 and set a “buy” rating for the company in a report on Monday, November 2nd. Wall Street Zen lowered nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $233.00 price target on shares of nVent Electric in a research note on Monday, November 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $197.82.

nVent Electric Company Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.