Investors Purchase Large Volume of Call Options on nVent Electric (NYSE:NVT)


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nVent Electric plc (NYSE:NVT) saw unusually large options trading activity on Wednesday. Stock traders purchased 1,001 call options on the company. This is an increase of 1,200% compared to the average daily volume of 77 call options.

A number of equities analysts recently issued reports on the stock. KeyCorp increased their price target on shares of nVent Electric from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, January 7th. Wolfe Research raised shares of nVent Electric from a “peer perform” rating to an “outperform” rating and increased their price target for the stock from $24.00 to $31.00 in a research note on Tuesday, December 8th. BidaskClub downgraded shares of nVent Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, December 22nd. Zacks Investment Research downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. Finally, TheStreet raised shares of nVent Electric from a “d+” rating to a “c-” rating in a research note on Monday, November 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.00.

Shares of NVT opened at $24.56 on Thursday. The company has a market capitalization of $4.18 billion, a P/E ratio of -83.97, a price-to-earnings-growth ratio of 3.32 and a beta of 1.54. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $23.47 and a 200 day moving average of $20.14. nVent Electric has a twelve month low of $10.53 and a twelve month high of $28.75.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The company had revenue of $509.30 million during the quarter, compared to the consensus estimate of $494.58 million. nVent Electric had a negative net margin of 2.39% and a positive return on equity of 10.35%. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. On average, sell-side analysts expect that nVent Electric will post 1.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 5th. Investors of record on Friday, January 22nd will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, January 21st. nVent Electric’s dividend payout ratio is currently 39.33%.

In related news, Director Jerry W. Burris sold 4,225 shares of the stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $22.00, for a total value of $92,950.00. Following the completion of the transaction, the director now directly owns 34,922 shares of the company’s stock, valued at $768,284. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.79% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in nVent Electric by 5.5% in the second quarter. Vanguard Group Inc. now owns 15,660,322 shares of the company’s stock worth $293,319,000 after purchasing an additional 810,848 shares during the last quarter. BlackRock Inc. boosted its holdings in nVent Electric by 1.3% in the third quarter. BlackRock Inc. now owns 13,847,839 shares of the company’s stock worth $244,967,000 after purchasing an additional 179,085 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in nVent Electric by 24.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,923,394 shares of the company’s stock worth $34,024,000 after purchasing an additional 371,964 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in nVent Electric by 70.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,657,654 shares of the company’s stock worth $29,324,000 after purchasing an additional 683,534 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in nVent Electric by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,651,235 shares of the company’s stock worth $29,211,000 after purchasing an additional 65,173 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Western and Eastern Europe included in European Union, China, Eastern Europe not included in European Union, Latin America, the Middle East, Southeast Asia, Australia, and Japan.

Read More: Price to Earnings Ratio (PE) Basics

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