nVent Electric PLC (NYSE:NVT) Director William T. Monahan sold 6,116 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $24.97, for a total value of $152,716.52. Following the sale, the director now owns 50,523 shares of the company’s stock, valued at approximately $1,261,559.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
nVent Electric stock opened at $24.21 on Friday. The company has a market capitalization of $4.18 billion, a P/E ratio of 13.91 and a beta of 1.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.84. nVent Electric PLC has a fifty-two week low of $19.04 and a fifty-two week high of $28.49. The stock has a 50-day simple moving average of $23.42 and a 200-day simple moving average of $22.86.
nVent Electric (NYSE:NVT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $559.80 million for the quarter, compared to the consensus estimate of $554.44 million. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. As a group, analysts forecast that nVent Electric PLC will post 1.75 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of nVent Electric during the second quarter worth approximately $47,815,000. State Street Corp boosted its stake in nVent Electric by 12.6% during the 3rd quarter. State Street Corp now owns 13,129,215 shares of the company’s stock worth $289,368,000 after purchasing an additional 1,470,095 shares during the period. Sasco Capital Inc. CT grew its position in nVent Electric by 5,247.9% during the 2nd quarter. Sasco Capital Inc. CT now owns 1,160,500 shares of the company’s stock worth $28,769,000 after purchasing an additional 1,138,800 shares during the last quarter. River Road Asset Management LLC purchased a new position in nVent Electric during the 3rd quarter worth $23,303,000. Finally, Wells Fargo & Company MN increased its stake in nVent Electric by 314.7% in the second quarter. Wells Fargo & Company MN now owns 1,146,100 shares of the company’s stock valued at $28,412,000 after purchasing an additional 869,741 shares during the period. Institutional investors own 86.79% of the company’s stock.
About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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