nVent Electric PLC $NVT Stock: Park Avenue Securities LLC Reduces Stake

Park Avenue Securities LLC trimmed its position in nVent Electric PLC (NYSE:NVT) by 17.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,727 shares of the company’s stock after selling 5,898 shares during the quarter. Park Avenue Securities LLC’s holdings in nVent Electric were worth $4,447,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of NVT. Sequoia Financial Advisors LLC grew its holdings in shares of nVent Electric by 16.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,540 shares of the company’s stock worth $12,982,000 after purchasing an additional 11,033 shares during the last quarter. State Street Corp lifted its holdings in nVent Electric by 4.9% during the 2nd quarter. State Street Corp now owns 5,313,122 shares of the company’s stock worth $901,159,000 after buying an additional 250,248 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in nVent Electric by 327.1% in the second quarter. Engineers Gate Manager LP now owns 33,538 shares of the company’s stock valued at $5,688,000 after acquiring an additional 25,686 shares during the last quarter. Alua Capital Management LP acquired a new stake in shares of nVent Electric during the 1st quarter worth approximately $27,394,000. Finally, Moore Capital Management LP acquired a new position in shares of nVent Electric in the 2nd quarter valued at $4,099,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group reaffirmed a “buy” rating on shares of nVent Electric in a research note on Tuesday, August 25th. Clear Str upgraded shares of nVent Electric to a “strong-buy” rating in a report on Monday, July 13th. Wolfe Research reaffirmed an “outperform” rating and set a $191.00 price target on shares of nVent Electric in a research report on Thursday, July 9th. Evercore reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of nVent Electric in a research report on Monday, August 3rd. Finally, Robert W. Baird upped their price target on nVent Electric from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $198.24.

nVent Electric Price Performance

Shares of NYSE NVT opened at $137.96 on Friday. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64. The company has a market cap of $22.33 billion, a PE ratio of 37.69, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The business’s 50 day moving average price is $153.45 and its two-hundred day moving average price is $144.26. The company has a quick ratio of 1.33, a current ratio of 1.80 and a debt-to-equity ratio of 0.37.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, July 31st. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.16 by $0.29. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.26 billion. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. nVent Electric’s revenue was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, analysts predict that nVent Electric PLC will post 5.17 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 23rd. nVent Electric’s payout ratio is presently 22.95%.

Insiders Place Their Bets

In related news, CEO Beth Wozniak sold 46,261 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $164.42, for a total value of $7,606,233.62. Following the completion of the transaction, the chief executive officer owned 55,612 shares of the company’s stock, valued at $9,143,725.04. The trade was a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Der Kolk Robert J. Van sold 5,858 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $164.32, for a total transaction of $962,586.56. Following the sale, the insider directly owned 27,387 shares of the company’s stock, valued at $4,500,231.84. This represents a 17.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 74,644 shares of company stock worth $12,276,886 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

About nVent Electric

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.