Raymond James & Associates Trims Stake in nVent Electric plc (NYSE:NVT)

Raymond James & Associates lowered its holdings in nVent Electric plc (NYSE:NVT) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,788 shares of the company’s stock after selling 29,893 shares during the period. Raymond James & Associates’ holdings in nVent Electric were worth $18,815,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NVT. UMB Bank n.a. increased its position in shares of nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric in the 3rd quarter worth approximately $29,000. ORG Partners LLC bought a new position in shares of nVent Electric in the 2nd quarter worth $31,000. First Foundation Advisors purchased a new stake in shares of nVent Electric during the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of nVent Electric during the 2nd quarter worth $34,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

NVT opened at $73.34 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The stock’s 50 day simple moving average is $68.73 and its 200 day simple moving average is $73.16. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.50 and a beta of 1.27. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last announced 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). The firm had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. nVent Electric’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $0.77 EPS. As a group, analysts predict that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, October 18th. nVent Electric’s payout ratio is 22.16%.

Insiders Place Their Bets

In other news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Herbert K. Parker acquired 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now owns 34,524 shares in the company, valued at $2,268,572.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

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

nVent Electric Company 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.