Stratos Wealth Partners LTD. Trims Stock Holdings in nVent Electric plc (NYSE:NVT)

Stratos Wealth Partners LTD. lowered its position in nVent Electric plc (NYSE:NVT) by 17.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,542 shares of the company’s stock after selling 741 shares during the period. Stratos Wealth Partners LTD.’s holdings in nVent Electric were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVT. Raymond James Financial Services Advisors Inc. increased its holdings in shares of nVent Electric by 9.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock valued at $383,000 after purchasing an additional 923 shares during the period. AlphaCrest Capital Management LLC grew its holdings in nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock worth $400,000 after acquiring an additional 3,093 shares during the period. Natixis Advisors L.P. grew its holdings in nVent Electric by 15.4% during the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock worth $1,514,000 after acquiring an additional 5,807 shares during the period. Bank of Montreal Can grew its holdings in nVent Electric by 10.6% during the first quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock worth $768,000 after acquiring an additional 2,072 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock worth $2,144,000 after purchasing an additional 5,879 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVT. Citigroup boosted their target price on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Barclays boosted their target price on nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group boosted their target price on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. Finally, Royal Bank of Canada upped their price objective on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.60.

nVent Electric Stock Performance

NYSE NVT opened at $73.15 on Wednesday. The business’s 50-day moving average price is $70.02 and its 200 day moving average price is $60.07. nVent Electric plc has a twelve month low of $40.19 and a twelve month high of $78.98. The company has a market capitalization of $12.14 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.35. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. During the same period in the prior year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts predict that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.04%. nVent Electric’s dividend payout ratio (DPR) is presently 22.55%.

Insider Buying and Selling

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares in the company, valued at $21,987.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the sale, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 400,252 shares of company stock worth $25,713,777. 2.50% of the stock is owned by company insiders.

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.