nVent Electric PLC (NYSE:NVT) Short Interest Update
nVent Electric PLC (NYSE:NVT) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 2,340,000 shares, a growth of 9.3% from the April 30th total of 2,140,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is currently 1.9 days.
In related news, Director Michael L. Ducker acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average cost of $17.50 per share, with a total value of $35,000.00. Following the acquisition, the director now owns 12,254 shares of the company’s stock, valued at approximately $214,445. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.79% of the company’s stock.
Several large investors have recently bought and sold shares of the business. State Street Corp lifted its position in shares of nVent Electric by 21.9% during the fourth quarter. State Street Corp now owns 16,002,728 shares of the company’s stock worth $409,350,000 after acquiring an additional 2,873,513 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of nVent Electric by 17.7% during the first quarter. Wellington Management Group LLP now owns 3,484,997 shares of the company’s stock worth $58,792,000 after acquiring an additional 524,956 shares in the last quarter. Mairs & Power INC lifted its position in shares of nVent Electric by 8.7% during the fourth quarter. Mairs & Power INC now owns 3,377,760 shares of the company’s stock worth $86,403,000 after acquiring an additional 271,721 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of nVent Electric by 4.5% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,190,597 shares of the company’s stock worth $56,036,000 after acquiring an additional 93,571 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of nVent Electric by 93.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,096,240 shares of the company’s stock worth $53,622,000 after acquiring an additional 1,014,979 shares in the last quarter. Hedge funds and other institutional investors own 83.81% of the company’s stock.
nVent Electric stock traded down $0.21 during trading on Friday, hitting $18.10. The stock had a trading volume of 506,168 shares, compared to its average volume of 1,049,678. nVent Electric has a 1 year low of $10.53 and a 1 year high of $28.75. The company has a quick ratio of 1.56, a current ratio of 2.16 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $17.45 and its two-hundred day moving average is $22.35. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 2.93 and a beta of 1.54.
nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). nVent Electric had a net margin of 8.45% and a return on equity of 11.56%. The firm had revenue of $520.90 million during the quarter, compared to analysts’ expectations of $535.91 million. During the same quarter in the previous year, the company posted $0.39 EPS. nVent Electric’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts anticipate that nVent Electric will post 1.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $0.70 annualized dividend and a dividend yield of 3.87%. nVent Electric’s dividend payout ratio is currently 39.33%.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
Further Reading: Margin
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