Cetera Investment Advisers Sells 2,060 Shares of nVent Electric plc (NYSE:NVT)

Cetera Investment Advisers reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,409 shares of the company’s stock after selling 2,060 shares during the period. Cetera Investment Advisers’ holdings in nVent Electric were worth $3,504,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NVT. Miracle Mile Advisors LLC bought a new position in nVent Electric during the 4th quarter worth $760,000. Oak Thistle LLC bought a new position in nVent Electric during the 4th quarter worth $1,009,000. Carnegie Investment Counsel raised its position in nVent Electric by 13.1% during the 4th quarter. Carnegie Investment Counsel now owns 101,835 shares of the company’s stock worth $6,941,000 after purchasing an additional 11,764 shares during the last quarter. HB Wealth Management LLC bought a new position in nVent Electric during the 4th quarter worth $272,000. Finally, Artemis Investment Management LLP raised its position in nVent Electric by 235.9% during the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock worth $52,011,000 after purchasing an additional 535,881 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on NVT. The Goldman Sachs Group lowered their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. KeyCorp lifted their price objective on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Citigroup lowered their price objective on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada lifted their price objective on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $70.00.

nVent Electric Stock Performance

Shares of NVT opened at $67.16 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a 50-day moving average of $54.85 and a 200-day moving average of $64.75. The company has a market cap of $11.06 billion, a PE ratio of 34.27, a P/E/G ratio of 1.48 and a beta of 1.24. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. On average, equities research analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were paid a $0.20 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. nVent Electric’s dividend payout ratio is presently 22.86%.

Insider Activity

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

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.