Allspring Global Investments Holdings LLC Boosts Position in nVent Electric plc (NYSE:NVT)

Allspring Global Investments Holdings LLC boosted its position in nVent Electric plc (NYSE:NVT) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 388,093 shares of the company’s stock after purchasing an additional 631 shares during the period. Allspring Global Investments Holdings LLC owned about 0.23% of nVent Electric worth $27,267,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of nVent Electric in the first quarter worth approximately $26,000. ORG Partners LLC bought a new position in nVent Electric in the second quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric during the 3rd quarter worth $29,000. UMB Bank n.a. grew its position in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares during the period. Finally, First Foundation Advisors purchased a new stake in shares of nVent Electric in the 2nd quarter worth $34,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

NYSE NVT opened at $73.02 on Thursday. The business has a 50-day moving average price of $68.45 and a 200-day moving average price of $73.18. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53.

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

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.22%.

Insider Buying and Selling at nVent Electric

In related news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other nVent Electric news, 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 value of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of 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 disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NVT. Royal Bank of Canada lowered their target price 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. 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 note on Wednesday, October 2nd. Finally, KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note 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 $85.67.

About nVent Electric

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.