nVent Electric plc (NYSE:NVT) Stake Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in nVent Electric plc (NYSE:NVTGet Rating) by 35.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,989 shares of the company’s stock after purchasing an additional 52,225 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of nVent Electric worth $6,352,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its holdings in nVent Electric by 65.7% in the second quarter. Illinois Municipal Retirement Fund now owns 50,323 shares of the company’s stock worth $1,577,000 after purchasing an additional 19,952 shares during the period. Foundry Partners LLC boosted its holdings in shares of nVent Electric by 3.2% during the third quarter. Foundry Partners LLC now owns 105,024 shares of the company’s stock valued at $3,320,000 after acquiring an additional 3,286 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in shares of nVent Electric by 9.6% during the third quarter. FinTrust Capital Advisors LLC now owns 4,689 shares of the company’s stock valued at $158,000 after acquiring an additional 411 shares during the period. Seelaus Asset Management LLC boosted its holdings in shares of nVent Electric by 2.1% during the third quarter. Seelaus Asset Management LLC now owns 20,378 shares of the company’s stock valued at $644,000 after acquiring an additional 428 shares during the period. Finally, Factorial Partners LLC boosted its holdings in shares of nVent Electric by 6.2% during the second quarter. Factorial Partners LLC now owns 51,500 shares of the company’s stock valued at $1,613,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 87.12% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE NVT opened at $39.74 on Monday. nVent Electric plc has a fifty-two week low of $29.19 and a fifty-two week high of $40.52. The firm’s 50-day simple moving average is $38.87 and its 200 day simple moving average is $35.41. The company has a quick ratio of 1.30, a current ratio of 1.88 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.62 billion, a P/E ratio of 21.84 and a beta of 1.38.

nVent Electric (NYSE:NVTGet Rating) last issued its quarterly 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. nVent Electric had a net margin of 10.86% and a return on equity of 14.69%. The firm had revenue of $745.20 million for the quarter, compared to analysts’ expectations of $711.50 million. Equities analysts expect that nVent Electric plc will post 2.32 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 3rd. Shareholders of record on Friday, January 20th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, January 19th. nVent Electric’s dividend payout ratio (DPR) is presently 38.46%.

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 3,947 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $36.84, for a total value of $145,407.48. Following the sale, the director now directly owns 40,621 shares in the company, valued at $1,496,477.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other nVent Electric news, Director Jerry W. Burris sold 3,947 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $36.84, for a total transaction of $145,407.48. Following the sale, the director now owns 40,621 shares in the company, valued at approximately $1,496,477.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Randall J. Hogan sold 97,388 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $39.13, for a total value of $3,810,792.44. Following the sale, the director now owns 5,085 shares in the company, valued at approximately $198,976.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,135 shares of company stock worth $4,066,016. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Loop Capital assumed coverage on shares of nVent Electric in a report on Friday, October 7th. They set a “hold” rating and a $34.00 price target for the company. Royal Bank of Canada boosted their price target on shares of nVent Electric from $38.00 to $41.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Finally, Barclays lifted their price objective on shares of nVent Electric from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, January 5th.

nVent Electric Company Profile

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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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