Legacy Wealth Asset Management LLC Reduces Stake in nVent Electric plc (NYSE:NVT)

Legacy Wealth Asset Management LLC lessened its stake in shares of nVent Electric plc (NYSE:NVT) by 24.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,499 shares of the company’s stock after selling 1,427 shares during the period. Legacy Wealth Asset Management LLC’s holdings in nVent Electric were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC raised its stake in nVent Electric by 22.0% during the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after purchasing an additional 155 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after buying an additional 272 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after buying an additional 280 shares during the period. Sciencast Management LP lifted its holdings in nVent Electric by 7.1% in the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock valued at $332,000 after acquiring an additional 293 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in nVent Electric by 87.2% in the second quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock valued at $49,000 after acquiring an additional 299 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the topic of a number of research analyst reports. Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada dropped their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus target price of $85.67.

nVent Electric Price Performance

NVT stock opened at $73.34 on Friday. The business’s fifty day moving average price is $68.73 and its 200 day moving average price is $73.16. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57. The company has a market capitalization of $12.18 billion, a PE ratio of 21.38, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.19 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.04%. nVent Electric’s dividend payout ratio is presently 22.16%.

Insiders Place Their Bets

In related news, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

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.