Investors Purchase High Volume of nVent Electric Put Options (NYSE:NVT)

nVent Electric plc (NYSE:NVT) was the recipient of unusually large options trading activity on Thursday. Traders acquired 6,300 put options on the stock. This represents an increase of 457% compared to the typical daily volume of 1,131 put options.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. KeyCorp boosted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada boosted their target price on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $86.17.

Insiders Place Their Bets

In related news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction on Tuesday, November 12th. The shares were 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 owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction 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. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

Several large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of nVent Electric during the fourth quarter worth approximately $1,520,000. TT International Asset Management LTD lifted its position in shares of nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI lifted its position in shares of nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after purchasing an additional 11,349 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Performance

NYSE NVT opened at $65.63 on Friday. The stock has a market cap of $10.82 billion, a P/E ratio of 19.25, a PEG ratio of 3.02 and a beta of 1.26. The company’s 50-day simple moving average is $71.11 and its 200 day simple moving average is $70.39. nVent Electric has a twelve month low of $56.44 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.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. As a group, research analysts forecast that nVent Electric will post 2.49 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.22%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio is currently 23.46%.

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.