nVent Electric Target of Unusually High Options Trading (NYSE:NVT)

nVent Electric plc (NYSE:NVT) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 7,753 put options on the stock. This represents an increase of approximately 1,142% compared to the average volume of 624 put options.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This represents a 23.58 % 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 Jerry W. Burris sold 6,558 shares of the 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 completion of the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after buying an additional 155 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after acquiring an additional 166 shares during the period. Larson Financial Group LLC increased its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Huntington National Bank lifted its holdings in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares during the period. Finally, Anchor Investment Management LLC boosted its position in nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of a number of recent research reports. Citigroup upped their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a report on Monday. Barclays raised 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. KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada cut their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $85.50.

nVent Electric Price Performance

Shares of NYSE NVT opened at $74.44 on Wednesday. The firm has a market cap of $12.27 billion, a P/E ratio of 21.83, a PEG ratio of 3.96 and a beta of 1.25. nVent Electric has a twelve month low of $55.19 and a twelve month high of $86.57. 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 company has a 50 day moving average of $74.44 and a 200 day moving average of $72.89.

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

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. nVent Electric’s dividend payout ratio is presently 22.29%.

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.