nVent Electric plc (NYSE:NVT) Director Purchases $497,161.86 in Stock

nVent Electric plc (NYSE:NVT - Get Free Report) Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company's stock, valued at approximately $2,268,572.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

nVent Electric Price Performance

NVT stock traded up $2.42 during trading on Thursday, hitting $66.95. 2,348,735 shares of the company's stock traded hands, compared to its average volume of 1,521,301. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The business has a fifty day simple moving average of $73.98 and a 200 day simple moving average of $73.09. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.52 and a beta of 1.31.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. During the same quarter last year, the business earned $0.77 EPS. nVent Electric's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts expect that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.14%. nVent Electric's dividend payout ratio (DPR) is presently 22.16%.

Analyst Ratings Changes

NVT has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 4th. The Goldman Sachs Group upped their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday, May 6th. Finally, Royal Bank of Canada dropped their target price on shares of nVent Electric from $88.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $87.80.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NVT. Banque Cantonale Vaudoise purchased a new position in nVent Electric during the 1st quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new position in nVent Electric during the 4th quarter valued at about $28,000. ORG Partners LLC purchased a new position in nVent Electric during the 2nd quarter valued at about $31,000. Rise Advisors LLC purchased a new position in nVent Electric during the 1st quarter valued at about $32,000. Finally, First Foundation Advisors purchased a new position in nVent Electric during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

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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