Stock traders are buying a high volume of call options on nVent Electric (NYSE:NVT)


nVent Electric plc (NYSE:NVT – Get Rating) was the recipient of unusual options trading activity on Wednesday. Investors bought 4,000 call options on the company. This represents an increase of approximately 4,778% over the typical volume of 82 call options.

Analyst upgrades and downgrades

A number of brokerages have recently released reports on NVT. Goldman Sachs Group lowered its price target on nVent Electric from $43.00 to $38.00 and set a “buy” rating on the stock in a Thursday, June 23 report. Barclays raised its price target on nVent Electric from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday August 1. Finally, Royal Bank of Canada raised its target price on nVent Electric shares from $36.00 to $39.00 and gave the stock an “outperform” rating in a report released on Monday, August 1. Five analysts rated the stock with a buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $41.80.

nVent Electric Price Performance

NYSE NVT opened at $36.42 on Thursday. The company has a debt ratio of 0.40, a current ratio of 1.75 and a quick ratio of 1.13. The company has a market capitalization of $6.06 billion, a price-earnings ratio of 21.73 and a beta of 1.43. The company has a 50-day simple moving average of $32.93 and a 200-day simple moving average of $34.00. nVent Electric has a 52-week low of $29.19 and a 52-week high of $39.53.

nVent Electric (NYSE: NVT – Get Rating) last released its results on Friday, July 29. The company reported earnings per share (EPS) of $0.57 for the quarter, beating analyst consensus estimates of $0.54 by $0.03. nVent Electric achieved a net margin of 10.57% and a return on equity of 14.02%. The company had revenue of $728.00 million in the quarter, versus a consensus estimate of $687.72 million. In the same quarter of the previous year, the company achieved EPS of $0.50. The company’s revenue increased by 21.1% compared to the same quarter last year. Equity research analysts expect nVent Electric to post earnings per share of 2.22 for the current fiscal year.

Insider Activity at nVent Electric

Separately, CAO Randolph A. Wacker sold 2,784 shares in a trade that took place on Wednesday, August 10. The shares were sold at an average price of $35.71, for a total value of $99,416.64. Following completion of the transaction, the chief accounting officer now directly owns 13,531 shares of the company, valued at $483,192.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other nVent Electric news, Chief Financial Officer Sara E. Zawoyski sold 3,591 shares of the company in a trade dated Tuesday, August 16. The shares were sold at an average price of $36.88, for a total value of $132,436.08. Following the sale, the CFO now directly owns 43,927 shares of the company, valued at $1,620,027.76. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, CAO Randolph A. Wacker sold 2,784 shares of the company in a trade dated Wednesday, August 10. The shares were sold at an average price of $35.71, for a total transaction of $99,416.64. Following the completion of the sale, the accounting director now directly owns 13,531 shares of the company, valued at $483,192.01. The disclosure of this sale can be found here. Insiders sold 7,965 shares of the company worth $288,632 in the past 90 days. Company insiders own 2.10% of the company’s shares.

Hedge funds weigh on nVent Electric

Hedge funds have recently increased or reduced their stakes in the company. Captrust Financial Advisors increased its stake in nVent Electric shares by 16.2% in the second quarter. Captrust Financial Advisors now owns 5,375 shares of the company valued at $168,000 after purchasing an additional 751 shares in the last quarter. United Services Automobile Association acquired a new stake in nVent Electric stock in the second quarter worth approximately $564,000. Colony Group LLC increased its stake in the shares of nVent Electric by 8.0% during the 2nd quarter. Colony Group LLC now owns 114,541 shares of the company worth $3,589,000 after acquiring 8,521 additional shares in the last quarter. Penn Capital Management Company LLC increased its equity stake in nVent Electric by 4.4% during the second quarter. Penn Capital Management Company LLC now owns 70,895 shares of the company valued at $2,221,000 after acquiring 2,993 additional shares in the last quarter. Finally, Concentric Capital Strategies LP increased its stake in nVent Electric shares by 55.3% in the second quarter. Concentric Capital Strategies LP now owns 62,600 shares of the company valued at $1,961,000 after acquiring an additional 22,300 shares last quarter. Institutional investors and hedge funds own 88.44% of the company’s shares.

nVent Electric Company Profile

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nVent Electric plc designs, manufactures, markets, installs and services electrical connection and protection products worldwide. The Company operates through three segments: Enclosures, Electrical and Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions for connecting and protecting critical electronic, communication, control and power equipment; physical infrastructure solutions to house, connect and protect server and network equipment; and interior and exterior protection for test and measurement and aerospace and defense applications in the industrial, infrastructure, commercial and energy sectors.

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