Insider Buying: nVent Electric (NYSE:NVT) Director Purchases $339,420.00 in Stock

nVent Electric PLC (NYSE:NVT) Director Herbert Parker bought 3,000 shares of nVent Electric stock in a transaction dated Monday, November 9th. The stock was acquired at an average cost of $113.14 per share, for a total transaction of $339,420.00. Following the completion of the acquisition, the director directly owned 19,853 shares in the company, valued at $2,246,168.42. This represents a 17.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

nVent Electric Stock Down 0.8%

NYSE NVT opened at $115.74 on Friday. The firm has a market cap of $18.70 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 0.59 and a beta of 1.39. nVent Electric PLC has a one year low of $93.22 and a one year high of $184.64. The stock’s 50 day simple moving average is $146.19 and its 200 day simple moving average is $144.56. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.40 and a quick ratio of 1.93.

nVent Electric (NYSE:NVT) last issued 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. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, sell-side analysts forecast that nVent Electric PLC will post 5.36 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were given a dividend of $0.21 per share. The ex-dividend date was Friday, October 23rd. This represents a $0.84 annualized dividend and a yield of 0.7%. nVent Electric’s dividend payout ratio is 20.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Sanford C. Bernstein restated an “outperform” rating and issued a $233.00 price objective on shares of nVent Electric in a research report on Monday, November 2nd. Royal Bank Of Canada upped their target price on shares of nVent Electric from $200.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 14th. Robert W. Baird increased their price target on shares of nVent Electric from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on shares of nVent Electric from $167.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Seaport Research Partners reissued a “neutral” rating and issued a $225.00 price target on shares of nVent Electric in a report on Monday, October 12th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $197.12.

Institutional Investors Weigh In On nVent Electric

Several institutional investors have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in nVent Electric in the third quarter valued at approximately $3,370,000. Winslow Capital Management LLC acquired a new stake in nVent Electric during the 3rd quarter worth $13,890,000. First Trust Advisors LP grew its holdings in nVent Electric by 11.3% during the 3rd quarter. First Trust Advisors LP now owns 2,935,539 shares of the company’s stock worth $470,772,000 after acquiring an additional 298,094 shares during the period. State Street Corp raised its position in shares of nVent Electric by 14.9% during the 3rd quarter. State Street Corp now owns 6,107,148 shares of the company’s stock valued at $979,403,000 after acquiring an additional 794,026 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of nVent Electric during the 3rd quarter valued at $5,430,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Company Profile

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.