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

nVent Electric plc (NYSE:NVT) was the target of some unusual options trading activity on Thursday. Investors acquired 6,300 put options on the stock. This represents an increase of 457% compared to the average volume of 1,131 put options.

Insider Activity at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction on Monday, November 25th. The shares were 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 $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction 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 $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of nVent Electric

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of nVent Electric by 3.6% during the 3rd 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. Calamos Advisors LLC lifted its holdings in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after acquiring an additional 176 shares during the period. Larson Financial Group LLC lifted its holdings in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares during the period. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

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

nVent Electric Stock Performance

NYSE NVT opened at $65.63 on Friday. 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 market capitalization of $10.82 billion, a P/E ratio of 19.25, a P/E/G ratio of 3.02 and a beta of 1.26. nVent Electric has a 12-month low of $56.44 and a 12-month high of $86.57. The firm has a 50-day moving average price of $71.11 and a two-hundred day moving average price of $70.39.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) 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%. Analysts anticipate that nVent Electric will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

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

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.