nVent Electric PLC (NYSE:NVT) CAO Sells $267,270.00 in Stock

Key Points

• nVent Electric PLC's CAO, Randolph A. Wacker, sold 3,000 shares for a total of $267,270.00, reducing their ownership by 9.83% to 27,525 shares.
• The company reported a 30.1% year-over-year revenue growth with earnings per share (EPS) of $0.86, exceeding analysts' expectations.
• nVent Electric announced a quarterly dividend of $0.20 per share, which represents an annualized yield of 0.9%.

nVent Electric PLC (NYSE:NVT - Get Free Report) CAO Randolph A. Wacker sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $89.09, for a total value of $267,270.00. Following the transaction, the chief accounting officer owned 27,525 shares of the company's stock, valued at $2,452,202.25. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

nVent Electric Stock Performance

NYSE NVT traded down $2.00 during trading on Wednesday, reaching $89.84. 412,086 shares of the company's stock were exchanged, compared to its average volume of 2,198,592. The business has a 50 day moving average price of $75.83 and a 200-day moving average price of $64.87. The stock has a market capitalization of $14.46 billion, a P/E ratio of 25.59, a PEG ratio of 1.52 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $92.75.

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

nVent Electric Dividend Announcement

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

Institutional Investors Weigh In On nVent Electric

Large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors acquired a new stake in nVent Electric in the fourth quarter valued at $384,749,000. Nuveen LLC acquired a new stake in nVent Electric in the first quarter valued at $229,615,000. Norges Bank acquired a new position in shares of nVent Electric in the 2nd quarter valued at about $234,290,000. Massachusetts Financial Services Co. MA lifted its stake in shares of nVent Electric by 146.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,195,543 shares of the company's stock valued at $234,074,000 after purchasing an additional 1,896,749 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of nVent Electric by 29.5% during the 2nd quarter. William Blair Investment Management LLC now owns 3,113,936 shares of the company's stock valued at $228,096,000 after purchasing an additional 709,464 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Wall Street Analyst Weigh In

NVT has been the subject of several research reports. Barclays reissued an "overweight" rating on shares of nVent Electric in a research note on Monday, August 4th. Roth Capital reissued a "buy" rating and issued a $100.00 target price (up from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. The Goldman Sachs Group lifted their target price on nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Citigroup lifted their target price on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Wall Street Zen raised nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, nVent Electric currently 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.