Mutual of America Capital Management LLC Trims Stock Holdings in nVent Electric plc (NYSE:NVT)

Mutual of America Capital Management LLC lessened its position in shares of nVent Electric plc (NYSE:NVT) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,833 shares of the company’s stock after selling 5,222 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of nVent Electric worth $6,312,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NVT. ORG Partners LLC purchased a new stake in nVent Electric in the second quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new stake in shares of nVent Electric in the 3rd quarter valued at $29,000. UMB Bank n.a. boosted its holdings in shares of nVent Electric by 280.0% in 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 last quarter. First Foundation Advisors acquired a new stake in shares of nVent Electric in the second quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in nVent Electric in the second quarter valued at $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of NVT stock opened at $75.52 on Wednesday. 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 $52.26 and a 12-month high of $86.57. The business’s 50 day moving average is $71.63 and its two-hundred day moving average is $73.26. The company has a market capitalization of $12.45 billion, a P/E ratio of 22.15, a P/E/G ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced 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 return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada decreased their price target 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, Barclays dropped their price objective on shares of 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $85.33.

Insider Activity at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on 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 directly owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,824 shares of company stock valued at $6,841,316. 2.50% of the stock is owned by corporate insiders.

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.