Herbert K. Parker Sells 20,597 Shares of nVent Electric PLC (NYSE:NVT) Stock

Key Points

• Herbert K. Parker, a director at nVent Electric PLC, sold 20,597 shares of the company's stock for approximately $1.85 million, reducing his ownership by 57.75%.
• nVent Electric recently reported an earnings per share (EPS) of $0.86, surpassing analysts' expectations of $0.79, with a revenue of $963.10 million
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 0.9%.

nVent Electric PLC (NYSE:NVT - Get Free Report) Director Herbert K. Parker sold 20,597 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $89.88, for a total transaction of $1,851,258.36. Following the completion of the transaction, the director directly owned 15,070 shares of the company's stock, valued at $1,354,491.60. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

nVent Electric Trading Up 0.4%

NVT stock traded up $0.33 during mid-day trading on Wednesday, reaching $90.06. 1,677,269 shares of the stock traded hands, compared to its average volume of 2,454,366. The stock has a market capitalization of $14.49 billion, a PE ratio of 25.66, a PEG ratio of 1.54 and a beta of 1.35. nVent Electric PLC has a one year low of $41.71 and a one year high of $91.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67. The business has a 50-day moving average price of $73.45 and a two-hundred day moving average price of $64.35.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. The firm had revenue of $963.10 million during the quarter, compared to analyst estimates of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The business's revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities research analysts expect that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Saturday, January 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, July 18th. nVent Electric's payout ratio is currently 22.79%.

Institutional Trading of nVent Electric

Large investors have recently made changes to their positions in the stock. PFG Investments LLC lifted its stake in nVent Electric by 2.7% in the second quarter. PFG Investments LLC now owns 5,020 shares of the company's stock worth $368,000 after acquiring an additional 132 shares during the period. Quadrant Capital Group LLC lifted its stake in nVent Electric by 4.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock worth $259,000 after acquiring an additional 150 shares during the period. Alliance Wealth Advisors LLC UT lifted its stake in nVent Electric by 1.1% in the first quarter. Alliance Wealth Advisors LLC UT now owns 14,192 shares of the company's stock worth $744,000 after acquiring an additional 159 shares during the period. Trust Co. of Vermont lifted its stake in nVent Electric by 57.8% in the second quarter. Trust Co. of Vermont now owns 434 shares of the company's stock worth $32,000 after acquiring an additional 159 shares during the period. Finally, Utah Retirement Systems lifted its stake in nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after acquiring an additional 200 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Royal Bank Of Canada reiterated an "outperform" rating and set a $102.00 price objective (up previously from $85.00) on shares of nVent Electric in a research report on Monday. Barclays restated an "overweight" rating on shares of nVent Electric in a research report on Monday. Roth Capital restated a "buy" rating and issued a $100.00 price target (up previously from $89.00) on shares of nVent Electric in a research report on Monday. Finally, Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $87.00.

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.

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