nVent Electric PLC (NYSE:NVT) Short Interest Update

nVent Electric PLC (NYSE:NVT) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 2,962,493 shares, a decrease of 38.8% from the February 26th total of 4,837,160 shares. Based on an average daily volume of 2,324,345 shares, the short-interest ratio is presently 1.3 days. Approximately 1.9% of the company’s stock are short sold.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the sale, the director owned 13,405 shares in the company, valued at approximately $1,535,140.60. This trade represents a 27.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Beth Wozniak sold 7,597 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the transaction, the chief executive officer owned 52,990 shares in the company, valued at $6,171,745.30. The trade was a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 17,841 shares of company stock worth $2,046,166. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Trust Asset Management LLC purchased a new position in nVent Electric in the 3rd quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in shares of nVent Electric during the 3rd quarter worth $31,000. Manchester Capital Management LLC lifted its holdings in shares of nVent Electric by 128.1% during the 4th quarter. Manchester Capital Management LLC now owns 308 shares of the company’s stock worth $31,000 after acquiring an additional 173 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in nVent Electric in the fourth quarter worth $32,000. Finally, Advisory Services Network LLC purchased a new position in nVent Electric in the third quarter worth $35,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Price Performance

Shares of NVT stock traded down $1.49 on Friday, reaching $116.95. The company’s stock had a trading volume of 1,741,691 shares, compared to its average volume of 2,514,605. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. nVent Electric has a 12-month low of $41.71 and a 12-month high of $129.94. The company has a market capitalization of $18.91 billion, a P/E ratio of 27.20, a PEG ratio of 1.22 and a beta of 1.31. The stock’s 50 day simple moving average is $114.87 and its 200-day simple moving average is $107.32.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The firm’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. As a group, equities analysts predict that nVent Electric will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, April 24th. nVent Electric’s dividend payout ratio is 19.53%.

Wall Street Analyst Weigh In

NVT has been the subject of several recent research reports. Wolfe Research upgraded nVent Electric to an “outperform” rating in a research report on Monday, February 9th. Wall Street Zen cut nVent Electric from a “strong-buy” rating to a “buy” rating in a report on Monday, February 23rd. UBS Group reaffirmed a “buy” rating and set a $135.00 target price on shares of nVent Electric in a report on Friday, March 13th. Weiss Ratings upgraded nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Finally, Royal Bank Of Canada increased their price target on shares of nVent Electric from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.50.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.