nVent Electric PLC (NYSE:NVT) EVP Sells $2,208,060.00 in Stock

Key Points

• nVent Electric's EVP, Aravind Padmanabhan, sold 24,534 shares for a total of $2,208,060.00, reducing his position by 67.04%.
• The company reported a 30.1% year-over-year increase in revenue for the last quarter, totaling $963.10 million and outpacing analyst expectations.
• nVent Electric recently announced a quarterly dividend of $0.20 per share, reflecting an annualized yield of 0.9%, with a payout ratio of 22.79%.

nVent Electric PLC (NYSE:NVT - Get Free Report) EVP Aravind Padmanabhan sold 24,534 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,208,060.00. Following the sale, the executive vice president directly owned 12,063 shares in the company, valued at $1,085,670. This trade represents a 67.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

nVent Electric Stock Up 1.1%

Shares of NVT traded up $1.00 on Monday, reaching $89.01. The company's stock had a trading volume of 126,680 shares, compared to its average volume of 2,185,573. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $92.75. The stock has a market capitalization of $14.33 billion, a PE ratio of 25.36, a PEG ratio of 1.51 and a beta of 1.35. The firm has a fifty day moving average of $77.18 and a 200-day moving average of $65.41.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results 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 company had revenue of $963.10 million for 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 firm's revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 EPS. Equities analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

Institutional Trading of nVent Electric

A number of hedge funds have recently bought and sold shares of NVT. PFG Investments LLC increased its stake in shares of nVent Electric by 2.7% during the 2nd quarter. PFG Investments LLC now owns 5,020 shares of the company's stock worth $368,000 after purchasing an additional 132 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its holdings in nVent Electric by 1.1% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 14,192 shares of the company's stock valued at $744,000 after purchasing an additional 159 shares during the period. Trust Co. of Vermont boosted its holdings in nVent Electric by 57.8% in the 2nd quarter. Trust Co. of Vermont now owns 434 shares of the company's stock valued at $32,000 after purchasing an additional 159 shares during the period. Coldstream Capital Management Inc. boosted its holdings in nVent Electric by 1.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 13,917 shares of the company's stock valued at $1,019,000 after purchasing an additional 169 shares during the period. Finally, Utah Retirement Systems lifted its holdings in shares of nVent Electric by 2.3% during the 4th 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 last quarter. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVT. The Goldman Sachs Group upped their price target 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. Barclays reissued an "overweight" rating on shares of nVent Electric in a research report on Monday, August 4th. Roth Capital reissued a "buy" rating and set a $100.00 price objective (up previously from $89.00) on shares of nVent Electric in a research report on Monday, August 4th. Citigroup increased their price target on nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, KeyCorp increased their price target on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price 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.