D.A. Davidson & CO. Decreases Holdings in nVent Electric plc (NYSE:NVT)

D.A. Davidson & CO. trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,149 shares of the company’s stock after selling 271 shares during the period. D.A. Davidson & CO.’s holdings in nVent Electric were worth $1,850,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of NVT. Crews Bank & Trust purchased a new stake in nVent Electric during the 4th quarter worth about $26,000. Larson Financial Group LLC lifted its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. Huntington National Bank lifted its holdings in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the last quarter. Brooklyn Investment Group purchased a new stake in nVent Electric during the 3rd quarter worth about $44,000. Finally, Tsfg LLC purchased a new stake in nVent Electric during the 4th quarter worth about $51,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on NVT. Citigroup cut their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays lifted their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada lifted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $86.33.

nVent Electric Stock Performance

Shares of NVT stock opened at $62.64 on Friday. The stock has a market capitalization of $10.34 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. nVent Electric plc has a 52-week low of $56.44 and a 52-week high of $86.57. The stock’s 50-day moving average price is $68.84 and its 200 day moving average price is $70.12. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities research analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.