Atria Wealth Solutions Inc. Sells 2,731 Shares of nVent Electric plc (NYSE:NVT)

Atria Wealth Solutions Inc. trimmed its position in shares of nVent Electric plc (NYSE:NVT) by 28.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,959 shares of the company’s stock after selling 2,731 shares during the period. Atria Wealth Solutions Inc.’s holdings in nVent Electric were worth $411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVT. State of Michigan Retirement System boosted its position in nVent Electric by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock worth $2,352,000 after buying an additional 200 shares during the period. Quent Capital LLC grew its stake in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in nVent Electric by 5.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock valued at $253,000 after purchasing an additional 236 shares during the period. Cookson Peirce & Co. Inc. raised its position in nVent Electric by 4.1% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company’s stock worth $372,000 after purchasing an additional 277 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in nVent Electric by 3.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock worth $472,000 after buying an additional 307 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling at nVent Electric

In other news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 400,252 shares of company stock valued at $25,713,777. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVT. Barclays increased their price target on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group raised their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada reduced their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 target price for the company. Finally, Citigroup upped their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, nVent Electric has an average rating of “Moderate Buy” and an average price target of $87.00.

nVent Electric Stock Performance

NYSE:NVT opened at $76.41 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric plc has a twelve month low of $40.22 and a twelve month high of $78.98. The company has a fifty day moving average of $72.62 and a 200-day moving average of $62.17. The firm has a market capitalization of $12.68 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.63 and a beta of 1.35.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.25 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 0.99%. nVent Electric’s payout ratio is currently 22.16%.

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.