Amalgamated Bank Has $6.80 Million Position in nVent Electric plc (NYSE:NVT)

Amalgamated Bank lessened its position in shares of nVent Electric plc (NYSE:NVT) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 115,006 shares of the company’s stock after selling 1,025 shares during the period. Amalgamated Bank’s holdings in nVent Electric were worth $6,796,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NVT. Commonwealth Equity Services LLC lifted its stake in nVent Electric by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company’s stock worth $825,000 after purchasing an additional 1,325 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of nVent Electric by 3.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock worth $472,000 after buying an additional 307 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in nVent Electric in the third quarter valued at about $153,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in nVent Electric by 9.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,585 shares of the company’s stock worth $1,727,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Baystate Wealth Management LLC bought a new position in shares of nVent Electric in the third quarter worth about $33,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other nVent Electric news, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the transaction, the director now owns 8,277 shares in the company, valued at $529,976.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock valued at $25,713,777 in the last ninety days. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NVT shares. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada boosted their target price on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Barclays increased their price target on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup upped their target price on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, nVent Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

nVent Electric Trading Up 5.5 %

Shares of NVT stock opened at $75.89 on Monday. The stock has a 50-day moving average of $72.41 and a 200-day moving average of $61.98. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.63 and a beta of 1.35. nVent Electric plc has a 1-year low of $40.22 and a 1-year high of $78.98.

nVent Electric (NYSE:NVT) last released its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, equities research analysts forecast that nVent Electric plc will post 3.25 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

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.