Park Avenue Securities LLC Has $1.75 Million Holdings in nVent Electric plc (NYSE:NVT)

Park Avenue Securities LLC trimmed its stake in nVent Electric plc (NYSE:NVT) by 7.4% in the third quarter, HoldingsChannel.com reports. The firm owned 24,958 shares of the company’s stock after selling 1,992 shares during the period. Park Avenue Securities LLC’s holdings in nVent Electric were worth $1,754,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Balyasny Asset Management L.P. lifted its position in nVent Electric by 201.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock valued at $82,802,000 after acquiring an additional 937,149 shares in the last quarter. Millennium Management LLC grew its position in shares of nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after purchasing an additional 828,425 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after purchasing an additional 673,990 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of nVent Electric by 50.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after purchasing an additional 547,624 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of nVent Electric during the 1st quarter valued at about $22,784,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVT has been the subject of several research analyst reports. KeyCorp upgraded nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective for the company in a report on Wednesday, September 4th. Royal Bank of Canada lowered their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays reduced their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $85.00.

Insider Transactions at nVent Electric

In other nVent Electric news, 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 transaction, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction on 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 transaction, 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. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Up 3.0 %

Shares of NYSE NVT opened at $71.76 on Tuesday. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The company has a 50 day simple moving average of $66.32 and a 200-day simple moving average of $73.34. The company has a market capitalization of $11.91 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.35 and a beta of 1.27.

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

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. nVent Electric’s dividend payout ratio is presently 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.