nVent Electric PLC (NYSE:NVT) EVP Sells $10,710,219.12 in Stock

Key Points

• Jon D. Lammers, EVP of nVent Electric, sold 119,694 shares for approximately $10.7 million, reducing his stake by 62.83% and leaving him with 70,817 shares valued at around $6.34 million.
• nVent Electric reported strong quarterly earnings, with $0.86 EPS exceeding analyst expectations, and a revenue of $963.1 million, up 30.1% year-over-year.
• The company announced a quarterly dividend of $0.20 per share, leading to an annualized yield of 0.9%, with a payout ratio of 22.79%.

nVent Electric PLC (NYSE:NVT - Get Free Report) EVP Jon D. Lammers sold 119,694 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $89.48, for a total transaction of $10,710,219.12. Following the sale, the executive vice president directly owned 70,817 shares of the company's stock, valued at $6,336,705.16. The trade was a 62.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

nVent Electric Stock Performance

NYSE NVT traded up $0.33 during trading hours on Wednesday, hitting $90.06. The company had a trading volume of 1,677,269 shares, compared to its average volume of 2,454,366. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.50. The firm has a market cap of $14.49 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $91.52. The business has a fifty day simple moving average of $73.45 and a 200-day simple moving average of $64.35.

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

nVent Electric Dividend Announcement

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

Institutional Trading of nVent Electric

Several hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new position in shares of nVent Electric during the first quarter valued at $25,000. Capital A Wealth Management LLC bought a new stake in shares of nVent Electric during the 4th quarter worth about $27,000. Whipplewood Advisors LLC lifted its stake in shares of nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after acquiring an additional 500 shares during the period. Trust Co. of Vermont boosted its holdings in shares of nVent Electric by 57.8% in the second quarter. Trust Co. of Vermont now owns 434 shares of the company's stock valued at $32,000 after acquiring an additional 159 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in shares of nVent Electric by 1,202.9% during the second quarter. True Wealth Design LLC now owns 443 shares of the company's stock valued at $32,000 after acquiring an additional 409 shares during the period. Institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NVT shares. KeyCorp raised their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. The Goldman Sachs Group boosted their price objective on nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a report on Monday, July 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $102.00 target price (up previously from $85.00) on shares of nVent Electric in a report on Monday. Roth Capital reiterated a "buy" rating and issued a $100.00 price target (up from $89.00) on shares of nVent Electric in a report on Monday. Finally, Citigroup raised their price objective on nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus price target 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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