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

nVent Electric plc (NYSE:NVT) EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

nVent Electric Price Performance

nVent Electric stock traded up $0.72 during mid-day 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. nVent Electric plc has a twelve month low of $49.90 and a twelve month high of $86.57. The stock’s fifty day moving average price is $69.83 and its two-hundred day moving average price is $73.12. The stock has a market capitalization of $12.82 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.83 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 EPS. Research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its stake in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares in the last quarter. ORG Wealth Partners LLC bought a new position in nVent Electric during the third quarter valued at approximately $29,000. ORG Partners LLC acquired a new stake in nVent Electric in the second quarter valued at approximately $31,000. First Foundation Advisors bought a new stake in nVent Electric in the second quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of nVent Electric during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the topic of several analyst reports. KeyCorp raised their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays cut their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.