Empowered Funds LLC Sells 58,439 Shares of nVent Electric plc (NYSE:NVT)

Empowered Funds LLC cut its position in nVent Electric plc (NYSE:NVT) by 86.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,867 shares of the company’s stock after selling 58,439 shares during the period. Empowered Funds LLC’s holdings in nVent Electric were worth $623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after buying an additional 673,990 shares during the last quarter. Boston Partners boosted its holdings in shares of nVent Electric by 3.2% during the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after acquiring an additional 102,643 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after acquiring an additional 28,876 shares during the period. Swedbank AB purchased a new position in shares of nVent Electric during the third quarter valued at approximately $110,663,000. Finally, Millennium Management LLC lifted its position in nVent Electric by 159.9% during the second 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 during the period. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,824 shares of company stock valued at $6,841,316. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVT has been the topic of several research reports. Barclays cut their target price on shares of 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 report on Monday, November 4th. Finally, KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. 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 $85.33.

nVent Electric Trading Up 0.5 %

Shares of nVent Electric stock opened at $78.34 on Friday. nVent Electric plc has a 1-year low of $52.26 and a 1-year high of $86.57. The company’s fifty day simple moving average is $72.62 and its 200-day simple moving average is $73.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The stock has a market capitalization of $12.91 billion, a PE ratio of 22.97, a P/E/G ratio of 4.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter last year, the firm posted $0.84 earnings per share. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

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.