Private Advisor Group LLC Lowers Stock Holdings in nVent Electric plc (NYSE:NVT)

Private Advisor Group LLC lessened its holdings in nVent Electric plc (NYSE:NVT) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,272 shares of the company’s stock after selling 868 shares during the quarter. Private Advisor Group LLC’s holdings in nVent Electric were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of nVent Electric by 63.8% during the 3rd quarter. Signaturefd LLC now owns 1,409 shares of the company’s stock worth $99,000 after acquiring an additional 549 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of nVent Electric by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 44,060 shares of the company’s stock worth $3,096,000 after acquiring an additional 1,521 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of nVent Electric during the 3rd quarter worth approximately $269,000. Net Worth Advisory Group acquired a new position in shares of nVent Electric during the 3rd quarter worth approximately $638,000. Finally, Harbour Capital Advisors LLC raised its position in shares of nVent Electric by 36.2% during the 3rd quarter. Harbour Capital Advisors LLC now owns 14,200 shares of the company’s stock worth $1,019,000 after purchasing an additional 3,775 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity

In related news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the sale, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVT. Barclays cut their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. Finally, KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Trading Up 0.7 %

Shares of NVT opened at $68.79 on Tuesday. The stock has a fifty day moving average of $69.53 and a two-hundred day moving average of $73.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The company has a market capitalization of $11.43 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.26. nVent Electric plc has a fifty-two week low of $49.08 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.10%. nVent Electric’s dividend payout ratio is presently 22.22%.

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.