First Horizon Advisors Inc. Has $36,000 Holdings in nVent Electric plc (NYSE:NVT)

First Horizon Advisors Inc. decreased its holdings in shares of nVent Electric plc (NYSE:NVT) by 46.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517 shares of the company’s stock after selling 442 shares during the quarter. First Horizon Advisors Inc.’s holdings in nVent Electric were worth $36,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC bought a new position in nVent Electric in the second quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of nVent Electric during the third quarter worth $29,000. UMB Bank n.a. increased its holdings in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the last quarter. First Foundation Advisors bought a new stake in nVent Electric in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in nVent Electric in the second quarter valued at about $34,000. 90.05% of the stock is owned by institutional investors.

Insider Transactions at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,824 shares of company stock valued at $6,841,316 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVT. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, KeyCorp boosted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Stock Up 0.1 %

nVent Electric stock opened at $78.38 on Tuesday. nVent Electric plc has a twelve month low of $52.26 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. The company has a 50 day moving average of $72.88 and a 200-day moving average of $73.20. The stock has a market capitalization of $12.92 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. On average, equities research analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.29%.

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.