Crossmark Global Holdings Inc. Lowers Position in nVent Electric plc (NYSE:NVT)

Crossmark Global Holdings Inc. decreased its holdings in shares of nVent Electric plc (NYSE:NVT) by 32.1% in the 3rd quarter, Holdings Channel reports. The firm owned 11,151 shares of the company’s stock after selling 5,280 shares during the period. Crossmark Global Holdings Inc.’s holdings in nVent Electric were worth $784,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. increased its holdings in shares of nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after buying an additional 25,482 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after purchasing an additional 8,489 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after purchasing an additional 46,748 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of nVent Electric by 143.8% in the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares in the last quarter. Finally, Gateway Investment Advisers LLC bought a new position in shares of nVent Electric during the 2nd quarter valued at about $1,608,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Down 1.5 %

NYSE:NVT opened at $72.81 on Friday. The firm has a market capitalization of $12.00 billion, a P/E ratio of 21.66, a P/E/G ratio of 3.94 and a beta of 1.26. 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 fifty day moving average of $71.18 and a 200 day moving average of $73.24. nVent Electric plc has a 52 week low of $52.26 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate 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 net margin of 16.95% and a return on equity of 15.66%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. On average, research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. nVent Electric’s dividend payout ratio is currently 22.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank of Canada dropped their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Barclays cut their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric has an average rating of “Buy” and a consensus target price of $85.33.

Insider Activity

In related news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,824 shares of company stock valued at $6,841,316. Company insiders own 2.50% of the company’s stock.

nVent Electric 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.