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

Key Points

• Director Herbert Parker bought 3,000 shares at an average of $113.14, a $339,420 purchase that increased his ownership by 17.8% to 19,853 shares.
• nVent reported quarterly EPS of $1.52, beating estimates of $1.40; revenue rose 43.7% year over year to $1.51 billion, also above expectations.
• Shares traded at $112.41 after falling $2.03. Analysts’ consensus rating was “Buy,” with an average price target of $197.82.

nVent Electric PLC (NYSE:NVT - Get Free Report) Director Herbert Parker bought 3,000 shares of the stock in a transaction on Monday, November 9th. The shares were acquired at an average price of $113.14 per share, with a total value of $339,420.00. Following the purchase, the director owned 19,853 shares of the company's stock, valued at $2,246,168.42. The trade was a 17.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

nVent Electric Stock Performance

Shares of NYSE:NVT traded down $2.03 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 firm has a market capitalization of $18.17 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 0.57 and a beta of 1.39. nVent Electric PLC has a fifty-two week low of $93.22 and a fifty-two week high of $184.64. The business's 50-day moving average is $148.20 and its two-hundred day moving average is $144.50. The company has a quick ratio of 1.93, a current ratio of 2.40 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $0.91 EPS. The company's revenue for the quarter was up 43.7% on a year-over-year basis. As a group, equities research analysts forecast that nVent Electric PLC will post 5.36 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 6th. Shareholders of record on Friday, October 23rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.84 dividend on an annualized basis and a yield of 0.7%. nVent Electric's dividend payout ratio (DPR) is currently 20.24%.

Institutional Trading of nVent Electric

Hedge funds have recently added to or reduced their stakes in the business. OneAscent Financial Services LLC raised its position in nVent Electric by 83.6% in the third quarter. OneAscent Financial Services LLC now owns 5,887 shares of the company's stock worth $944,000 after acquiring an additional 2,681 shares in the last quarter. OneAscent Family Office LLC lifted its holdings in nVent Electric by 10.6% in the 3rd quarter. OneAscent Family Office LLC now owns 3,675 shares of the company's stock valued at $589,000 after acquiring an additional 352 shares during the last quarter. Composition Wealth LLC lifted its holdings in nVent Electric by 1.2% in the 3rd quarter. Composition Wealth LLC now owns 16,285 shares of the company's stock valued at $2,612,000 after acquiring an additional 195 shares during the last quarter. Voya Investment Management LLC lifted its holdings in nVent Electric by 55.6% in the 3rd quarter. Voya Investment Management LLC now owns 238,660 shares of the company's stock valued at $38,274,000 after acquiring an additional 85,302 shares during the last quarter. Finally, Cibc World Market Inc. bought a new position in shares of nVent Electric during the 3rd quarter valued at about $549,000. Institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BMO Capital Markets assumed coverage on nVent Electric in a report on Sunday, October 4th. They set an "outperform" rating and a $212.00 target price for the company. Wall Street Zen downgraded nVent Electric from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 17th. JPMorgan Chase & Co. began coverage on nVent Electric in a report on Tuesday, October 20th. They issued an "overweight" rating and a $167.00 price target on the stock. Clear Str upgraded nVent Electric to a "strong-buy" rating in a research report on Monday, July 13th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $200.00 price objective on shares of nVent Electric in a research report on Saturday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, nVent Electric has an average rating of "Buy" and a consensus price target of $197.82.

About nVent Electric

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.

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