nVent Electric plc (NYSE:NVT) Short Interest Up 55.3% in November

nVent Electric plc (NYSE:NVT - Get Free Report) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,230,000 shares, an increase of 55.3% from the October 31st total of 2,080,000 shares. Approximately 2.0% of the company's shares are sold short. Based on an average daily volume of 1,770,000 shares, the short-interest ratio is currently 1.8 days.

nVent Electric Stock Performance

nVent Electric stock traded up $1.77 during midday trading on Friday, reaching $78.31. 812,675 shares of the stock traded hands, compared to its average volume of 1,582,169. nVent Electric has a fifty-two week low of $52.70 and a fifty-two week high of $86.57. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.94 and a beta of 1.26. The firm has a fifty day moving average price of $73.42 and a two-hundred day moving average price of $73.22. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly 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 return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter last year, the firm posted $0.84 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio is 22.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NVT shares. Barclays dropped their price target on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Finally, KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $85.33.

Insiders Place Their Bets

In other news, 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 transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock valued at $7,365,956 over the last quarter. Company insiders own 2.50% of the company's stock.

Institutional Trading of nVent Electric

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in shares of nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company's stock worth $66,000 after buying an additional 155 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock worth $339,000 after buying an additional 166 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after buying an additional 181 shares during the last quarter. Huntington National Bank lifted its stake in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company's stock worth $43,000 after buying an additional 223 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company's stock worth $145,000 after buying an additional 272 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

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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