nVent Electric PLC (NYSE:NVT) Insider Sara E. Zawoyski Sells 22,109 Shares

Key Points

• Insider Sara E. Zawoyski sold 22,109 shares of nVent Electric stock for a total of $1,979,639.86, reducing her ownership by 24.91%.
• nVent Electric's most recent quarterly earnings surpassed expectations, with an EPS of $0.86 and revenue of $963.10 million, marking a 30.1% increase year-over-year.
• The company announced a quarterly dividend of $0.20, with an annualized yield of 0.9% and a payout ratio of 22.79%.

nVent Electric PLC (NYSE:NVT - Get Free Report) insider Sara E. Zawoyski sold 22,109 shares of nVent Electric stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the transaction, the insider directly owned 66,640 shares of the company's stock, valued at $5,966,945.60. This represents a 24.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

nVent Electric Stock Up 0.4%

Shares of NVT stock traded up $0.33 during mid-day trading on Wednesday, hitting $90.06. The company's stock had a trading volume of 1,677,269 shares, compared to its average volume of 2,454,366. The business has a 50-day moving average price of $73.45 and a 200 day moving average price of $64.35. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.54 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67. nVent Electric PLC has a 52-week low of $41.71 and a 52-week high of $91.52.

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

nVent Electric Announces Dividend

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

Institutional Investors Weigh In On nVent Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of NVT. True Wealth Design LLC boosted its position in shares of nVent Electric by 1,202.9% in the 2nd quarter. True Wealth Design LLC now owns 443 shares of the company's stock worth $32,000 after purchasing an additional 409 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of nVent Electric in the 2nd quarter valued at about $64,000. First Eagle Investment Management LLC acquired a new position in shares of nVent Electric in the 2nd quarter valued at about $590,000. OneAscent Family Office LLC acquired a new position in shares of nVent Electric in the 2nd quarter valued at about $245,000. Finally, Andra AP fonden purchased a new position in shares of nVent Electric in the 2nd quarter valued at about $1,542,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NVT shares. Wall Street Zen raised nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Citigroup upped their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a report on Monday, July 14th. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a report on Monday, July 7th. Barclays reaffirmed an "overweight" rating on shares of nVent Electric in a research report on Monday. Finally, KeyCorp boosted their target price on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research note 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average 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.

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