Key Points
- Director Herbert Parker bought 3,000 nVent Electric shares at an average $113.14 each, spending $339,420 and increasing his direct holdings by 17.8% to 19,853 shares.
- nVent reported quarterly EPS of $1.52, topping the $1.40 consensus estimate, while revenue rose 43.7% year over year to $1.51 billion.
- The company’s quarterly dividend is $0.21 per share ($0.84 annualized), and analysts’ consensus rating is Buy with an average price target of $197.82.
nVent Electric PLC (NYSE:NVT - Get Free Report) Director Herbert Parker bought 3,000 shares of the company's stock in a transaction that occurred on Monday, November 9th. The stock was bought at an average cost of $113.14 per share, for a total transaction of $339,420.00. Following the completion of the transaction, the director directly owned 19,853 shares in the company, valued at approximately $2,246,168.42. The trade was a 17.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.
nVent Electric Price Performance
Shares of NYSE:NVT opened at $112.41 on Wednesday. nVent Electric PLC has a 12 month low of $93.22 and a 12 month high of $184.64. The firm has a market capitalization of $18.17 billion, a P/E ratio of 23.07, a P/E/G ratio of 0.58 and a beta of 1.39. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.40 and a quick ratio of 1.93. The company's fifty day moving average price is $147.43 and its 200 day moving average price is $144.51.
nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. nVent Electric's revenue for the quarter was up 43.7% on a year-over-year basis. As a group, sell-side analysts predict that nVent Electric PLC will post 5.36 earnings per share for the current fiscal year.
nVent Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. nVent Electric's dividend payout ratio is 20.24%.
Institutional Investors Weigh In On nVent Electric
Several institutional investors have recently made changes to their positions in the stock. Livelsberger Financial Advisory acquired a new position in nVent Electric during the third quarter worth about $28,000. Aberdeen Group plc acquired a new position in shares of nVent Electric in the third quarter worth $32,000. Provenance Wealth Advisors LLC purchased a new position in nVent Electric in the 3rd quarter valued at about $36,000. Elevation Wealth Partners LLC raised its holdings in nVent Electric by 554.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 216 shares of the company's stock valued at $37,000 after acquiring an additional 183 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in shares of nVent Electric by 236.1% during the 2nd quarter. MCF Advisors LLC now owns 242 shares of the company's stock worth $41,000 after purchasing an additional 170 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
NVT has been the subject of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $200.00 price objective on shares of nVent Electric in a research note on Saturday, August 1st. Roth Capital reaffirmed a "buy" rating and issued a $200.00 target price on shares of nVent Electric in a report on Wednesday, October 28th. Zacks Research upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 2nd. Citigroup decreased their price target on shares of nVent Electric from $228.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, November 2nd. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $233.00 price objective on shares of nVent Electric in a research report on Monday, November 2nd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, nVent Electric presently has a consensus rating of "Buy" and an average price target of $197.82.
Read Our Latest Stock Report on NVT
nVent Electric Company Profile
(
Get Free Report)
nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.
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