nVent Electric PLC (NYSE:NVT) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its stake in shares of nVent Electric PLC (NYSE:NVT) by 20.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,403 shares of the company’s stock after selling 8,613 shares during the quarter. Cerity Partners LLC’s holdings in nVent Electric were worth $1,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of nVent Electric during the fourth quarter worth about $27,000. Park Square Financial Group LLC acquired a new position in nVent Electric in the fourth quarter valued at approximately $38,000. Whipplewood Advisors LLC boosted its holdings in nVent Electric by 467.3% in the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in nVent Electric by 58.0% in the first quarter. First Horizon Advisors Inc. now owns 817 shares of the company’s stock valued at $43,000 after purchasing an additional 300 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in nVent Electric by 39.9% in the first quarter. Allworth Financial LP now owns 876 shares of the company’s stock valued at $48,000 after purchasing an additional 250 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Down 1.7%

NVT opened at $75.95 on Monday. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The firm has a market cap of $12.50 billion, a P/E ratio of 21.70, a PEG ratio of 1.51 and a beta of 1.31. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.20. The business’s fifty day simple moving average is $70.02 and its 200 day simple moving average is $63.44.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric’s dividend payout ratio is currently 22.86%.

Insider Buying and Selling at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the sale, the executive vice president directly owned 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVT. Royal Bank Of Canada upped their price target on nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 5th. KeyCorp upped their price target on nVent Electric from $78.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. The Goldman Sachs Group upped their price target on nVent Electric from $78.00 to $87.00 and gave the company a “buy” rating in a report on Monday, July 7th. Wall Street Zen raised nVent Electric from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. Finally, Citigroup boosted their price objective on nVent Electric from $69.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $80.33.

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.