nVent Electric plc (NYSE:NVT) Short Interest Down 18.0% in November

nVent Electric plc (NYSE:NVT) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 2,650,000 shares, a decline of 18.0% from the November 15th total of 3,230,000 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily volume of 1,680,000 shares, the short-interest ratio is presently 1.6 days.

nVent Electric Stock Down 0.7 %

Shares of NYSE NVT traded down $0.56 during mid-day trading on Friday, reaching $75.03. 1,439,354 shares of the company were exchanged, compared to its average volume of 1,569,457. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 3.88 and a beta of 1.25. nVent Electric has a 1 year low of $55.19 and a 1 year high of $86.57. The firm has a 50-day moving average of $74.96 and a 200 day moving average of $72.78.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. On average, research analysts expect that nVent Electric will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On nVent Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the last quarter. ORG Partners LLC acquired a new position in shares of nVent Electric in the second quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in shares of nVent Electric in the third quarter valued at about $29,000. UMB Bank n.a. increased its holdings in shares of nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the period. Finally, First Foundation Advisors acquired a new position in shares of nVent Electric in the second quarter valued at about $34,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVT has been the topic of several analyst reports. KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Citigroup upped their price objective on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Barclays upped their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus target price of $85.50.

nVent Electric Company Profile

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.