nVent Electric plc (NYSE:NVT) Shares Purchased by Huntington National Bank

Huntington National Bank raised its position in nVent Electric plc (NYSE:NVT) by 57.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 612 shares of the company’s stock after acquiring an additional 223 shares during the quarter. Huntington National Bank’s holdings in nVent Electric were worth $43,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. grew its position in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after buying an additional 25,482 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of nVent Electric by 18.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after acquiring an additional 46,748 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of nVent Electric by 143.8% in the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock valued at $3,476,000 after acquiring an additional 27,196 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in shares of nVent Electric during the second quarter valued at approximately $1,608,000. Finally, Virtu Financial LLC bought a new stake in nVent Electric during the first quarter worth approximately $1,125,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

NVT opened at $75.52 on Wednesday. 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 firm has a market cap of $12.45 billion, a PE ratio of 21.52, a P/E/G ratio of 3.75 and a beta of 1.26. The business has a fifty day simple moving average of $71.63 and a 200-day simple moving average of $73.26. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. As a group, equities analysts predict that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.29%.

Insider Activity

In other news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company’s 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold 89,824 shares of company stock worth $6,841,316 over the last 90 days. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.