Jerry W. Burris Sells 6,558 Shares of nVent Electric plc (NYSE:NVT) Stock

nVent Electric plc (NYSE:NVT) Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

nVent Electric Stock Down 1.9 %

NVT stock opened at $76.53 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company’s 50 day simple moving average is $73.30 and its 200-day simple moving average is $73.20. nVent Electric plc has a 12 month low of $52.26 and a 12 month high of $86.57. The firm has a market capitalization of $12.61 billion, a PE ratio of 22.44, a P/E/G ratio of 4.03 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the company posted $0.84 EPS. nVent Electric’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

Institutional Investors Weigh In On nVent Electric

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its position in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after acquiring an additional 1,269,335 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of nVent Electric by 42.0% during the 3rd quarter. Tidal Investments LLC now owns 46,016 shares of the company’s stock worth $3,233,000 after purchasing an additional 13,621 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of nVent Electric during the third quarter worth $124,000. World Investment Advisors LLC purchased a new stake in shares of nVent Electric in the third quarter valued at $314,000. Finally, TT International Asset Management LTD increased its stake in nVent Electric by 550.2% in the third quarter. TT International Asset Management LTD now owns 90,019 shares of the company’s stock valued at $6,324,000 after purchasing an additional 76,175 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVT has been the subject of a number of research analyst reports. Barclays cut their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada decreased their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has an average rating of “Buy” and an average price target of $85.33.

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.