Sara E. Zawoyski Sells 2,178 Shares of nVent Electric plc (NYSE:NVT) Stock

Posted by Defense World Staff on Jun 3rd, 2023

nVent Electric plc (NYSE:NVT – Get Rating) CFO Sara E. Zawoyski sold 2,178 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $45.17, for a total value of $98,380.26. Following the completion of the transaction, the chief financial officer now directly owns 63,778 shares in the company, valued at $2,880,852.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

nVent Electric Stock Up 4.2 %

Shares of NVT opened at $46.12 on Friday. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 18.23 and a beta of 1.31. The stock’s 50-day moving average price is $42.58 and its 200-day moving average price is $41.53. The company has a quick ratio of 1.47, a current ratio of 2.08 and a debt-to-equity ratio of 0.38. nVent Electric plc has a 52 week low of $29.19 and a 52 week high of $46.66.

nVent Electric (NYSE:NVT – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. nVent Electric had a return on equity of 16.08% and a net margin of 14.41%. The company had revenue of $741.00 million for the quarter, compared to the consensus estimate of $740.70 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. nVent Electric’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that nVent Electric plc will post 2.75 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Shareholders of record on Friday, July 21st will be issued a dividend of $0.175 per share. The ex-dividend date is Thursday, July 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.52%. nVent Electric’s payout ratio is currently 27.67%.

Hedge Funds Weigh In On nVent Electric

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of nVent Electric by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock valued at $619,079,000 after purchasing an additional 302,124 shares during the last quarter. BlackRock Inc. increased its stake in nVent Electric by 0.8% during the first quarter. BlackRock Inc. now owns 15,251,841 shares of the company’s stock worth $654,914,000 after acquiring an additional 128,168 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of nVent Electric by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 5,618,501 shares of the company’s stock worth $216,144,000 after buying an additional 28,456 shares during the period. State Street Corp boosted its position in shares of nVent Electric by 1.7% during the first quarter. State Street Corp now owns 4,842,509 shares of the company’s stock worth $207,932,000 after buying an additional 81,399 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of nVent Electric by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,980,810 shares of the company’s stock worth $125,834,000 after buying an additional 22,841 shares during the period. Institutional investors and hedge funds own 87.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on nVent Electric from $53.00 to $55.00 in a report on Monday, May 1st. Royal Bank of Canada increased their price objective on nVent Electric from $50.00 to $53.00 in a report on Monday, May 22nd. Finally, The Goldman Sachs Group upped their target price on nVent Electric from $55.00 to $58.00 in a research note on Tuesday.

nVent Electric Company Profile

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nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.