Jerry W. Burris Sells 6,558 Shares of nVent Electric plc (NYSE:NVT) Stock

nVent Electric plc (NYSE:NVT) Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

nVent Electric Stock Performance

NYSE NVT opened at $76.54 on Friday. The company has a market cap of $12.62 billion, a P/E ratio of 22.45, a PEG ratio of 4.03 and a beta of 1.26. The company has a fifty day simple moving average of $73.42 and a 200 day simple moving average of $73.22. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 12-month low of $52.26 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results 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 return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 0.99%. nVent Electric’s dividend payout ratio is presently 22.29%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. UMB Bank n.a. lifted its position in shares of nVent Electric by 280.0% during 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 stake in nVent Electric in the 3rd quarter worth about $29,000. ORG Partners LLC purchased a new stake in nVent Electric in the 2nd quarter valued at about $31,000. Finally, First Foundation Advisors bought a new position in shares of nVent Electric during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. KeyCorp boosted their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays dropped their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus 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.