MML Investors Services LLC Lowers Stock Position in nVent Electric plc (NYSE:NVT)

MML Investors Services LLC reduced its holdings in shares of nVent Electric plc (NYSE:NVT) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,437 shares of the company’s stock after selling 666 shares during the quarter. MML Investors Services LLC’s holdings in nVent Electric were worth $874,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. lifted its stake in nVent Electric by 6.6% in the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after purchasing an additional 25,482 shares during the last quarter. Fifth Third Bancorp lifted its holdings in nVent Electric by 43.5% during the second quarter. Fifth Third Bancorp now owns 1,951 shares of the company’s stock valued at $149,000 after purchasing an additional 591 shares during the last quarter. AQR Capital Management LLC boosted its position in nVent Electric by 101.2% during the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock worth $27,484,000 after purchasing an additional 180,488 shares during the period. MQS Management LLC purchased a new position in shares of nVent Electric in the second quarter worth about $606,000. Finally, Van ECK Associates Corp raised its position in shares of nVent Electric by 19.0% in the second quarter. Van ECK Associates Corp now owns 68,722 shares of the company’s stock valued at $5,265,000 after purchasing an additional 10,955 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Insider Activity at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Stock Down 0.1 %

Shares of NYSE NVT opened at $69.55 on Friday. The business has a 50-day moving average of $74.91 and a 200-day moving average of $72.41. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.86 and a beta of 1.25. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 12 month low of $55.19 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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 business posted $0.84 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. nVent Electric’s dividend payout ratio is 23.46%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVT. KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays lifted their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup increased their price objective on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada cut their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and a consensus price target of $85.50.

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.