Baird Financial Group Inc. Reduces Stock Holdings in nVent Electric plc (NYSE:NVT)

Baird Financial Group Inc. reduced its stake in shares of nVent Electric plc (NYSE:NVTGet Rating) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,365 shares of the company’s stock after selling 460 shares during the quarter. Baird Financial Group Inc.’s holdings in nVent Electric were worth $324,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Neuberger Berman Group LLC grew its stake in nVent Electric by 81.7% during the 1st quarter. Neuberger Berman Group LLC now owns 6,395,364 shares of the company’s stock valued at $222,430,000 after purchasing an additional 2,876,232 shares in the last quarter. AMF Tjanstepension AB acquired a new stake in nVent Electric during the 2nd quarter valued at approximately $28,116,000. BlackRock Inc. grew its stake in nVent Electric by 3.2% during the 1st quarter. BlackRock Inc. now owns 14,459,036 shares of the company’s stock valued at $502,885,000 after purchasing an additional 454,668 shares in the last quarter. Interval Partners LP grew its stake in nVent Electric by 45.0% during the 1st quarter. Interval Partners LP now owns 1,413,169 shares of the company’s stock valued at $49,150,000 after purchasing an additional 438,280 shares in the last quarter. Finally, Woodline Partners LP grew its stake in nVent Electric by 66.4% during the 1st quarter. Woodline Partners LP now owns 765,232 shares of the company’s stock valued at $26,615,000 after purchasing an additional 305,318 shares in the last quarter. 88.28% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Price Performance

Shares of NVT opened at $39.99 on Wednesday. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 21.97 and a beta of 1.39. The stock has a 50 day moving average of $34.72 and a 200-day moving average of $34.06. The company has a current ratio of 1.88, a quick ratio of 1.30 and a debt-to-equity ratio of 0.40. nVent Electric plc has a 52 week low of $29.19 and a 52 week high of $40.00.

nVent Electric (NYSE:NVTGet Rating) last issued its earnings results on Friday, October 28th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $745.20 million during the quarter, compared to analyst estimates of $711.50 million. nVent Electric had a return on equity of 14.69% and a net margin of 10.86%. As a group, analysts forecast that nVent Electric plc will post 2.31 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Friday, October 21st were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, October 20th. nVent Electric’s dividend payout ratio (DPR) is 38.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVT shares. Barclays raised their price objective on nVent Electric from $47.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, October 31st. Royal Bank of Canada raised their price objective on nVent Electric from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. Finally, Loop Capital began coverage on nVent Electric in a research report on Friday, October 7th. They issued a “hold” rating and a $34.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.40.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 3,947 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $36.84, for a total value of $145,407.48. Following the sale, the director now owns 40,621 shares of the company’s stock, valued at approximately $1,496,477.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Jerry W. Burris sold 3,947 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $36.84, for a total value of $145,407.48. Following the sale, the director now owns 40,621 shares of the company’s stock, valued at approximately $1,496,477.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph A. Ruzynski sold 2,800 shares of nVent Electric stock in a transaction on Monday, November 14th. The shares were sold at an average price of $39.22, for a total value of $109,816.00. Following the sale, the insider now directly owns 24,194 shares in the company, valued at approximately $948,888.68. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

nVent Electric Company Profile

(Get Rating)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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