nVent Electric plc (NYSE:NVT) Short Interest Update

nVent Electric plc (NYSE:NVT - Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,610,000 shares, a decrease of 24.1% from the September 30th total of 2,120,000 shares. Based on an average daily volume of 1,800,000 shares, the short-interest ratio is presently 0.9 days. Approximately 1.0% of the company's shares are short sold.

nVent Electric Stock Down 1.1 %

NVT stock traded down $0.80 during trading on Friday, hitting $73.34. 1,155,170 shares of the stock traded hands, compared to its average volume of 1,525,423. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. nVent Electric has a 1 year low of $45.60 and a 1 year high of $86.57. The firm's 50 day moving average is $68.73 and its two-hundred day moving average is $73.14.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to analysts' expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. On average, sell-side analysts anticipate that nVent Electric will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric's dividend payout ratio is currently 22.16%.

Analyst Ratings Changes

Several brokerages have commented on NVT. Barclays lowered their price objective on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research 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 target price on shares of nVent Electric from $88.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $85.67.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company's stock, valued at $2,268,572.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in nVent Electric by 22.0% in the 2nd 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. EverSource Wealth Advisors LLC raised its holdings in shares of nVent Electric by 15.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company's stock valued at $145,000 after purchasing an additional 272 shares during the last quarter. Anchor Investment Management LLC lifted its position in nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company's stock valued at $44,000 after purchasing an additional 280 shares during the period. Sciencast Management LP boosted its holdings in nVent Electric by 7.1% in the first quarter. Sciencast Management LP now owns 4,397 shares of the company's stock worth $332,000 after purchasing an additional 293 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its position in nVent Electric by 87.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company's stock worth $49,000 after purchasing an additional 299 shares during the period. 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.