nVent Electric PLC (NYSE:NVT) EVP Lynnette R. Heath Sells 17,853 Shares

Key Points

• nVent Electric PLC EVP Lynnette R. Heath sold 17,853 shares at an average price of $89.33, reducing her ownership by 36.91%.
• The company reported a 30.1% year-over-year revenue increase, with an earnings per share of $0.86 for the last quarter, beating expectations by $0.07.
• nVent Electric declared a quarterly dividend of $0.20, yielding an annualized rate of 0.9%, with a dividend payout ratio of 22.79%.

nVent Electric PLC (NYSE:NVT - Get Free Report) EVP Lynnette R. Heath sold 17,853 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $89.33, for a total value of $1,594,808.49. Following the completion of the transaction, the executive vice president directly owned 30,512 shares in the company, valued at $2,725,636.96. This trade represents a 36.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

nVent Electric Stock Up 0.4%

NVT traded up $0.33 during 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's 50-day simple moving average is $73.45 and its two-hundred day simple moving average is $64.35. 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 $91.52. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35.

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

nVent Electric Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Capital Research Global Investors bought a new stake in shares of nVent Electric in the fourth quarter valued at about $384,749,000. Nuveen LLC acquired a new position in nVent Electric in the 1st quarter valued at approximately $229,615,000. William Blair Investment Management LLC lifted its position in shares of nVent Electric by 29.5% in the 2nd quarter. William Blair Investment Management LLC now owns 3,113,936 shares of the company's stock worth $228,096,000 after acquiring an additional 709,464 shares during the period. Clean Energy Transition LLP grew its holdings in shares of nVent Electric by 6.8% during the 1st quarter. Clean Energy Transition LLP now owns 2,260,068 shares of the company's stock worth $118,473,000 after purchasing an additional 144,403 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of nVent Electric by 743.7% during the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after purchasing an additional 1,953,026 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $102.00 price target (up from $85.00) on shares of nVent Electric in a report on Monday. The Goldman Sachs Group lifted their price target on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Barclays reaffirmed an "overweight" rating on shares of nVent Electric in a report on Monday. Finally, KeyCorp increased their target price on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. 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 a consensus price target of $87.00.

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.

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