Glenmede Trust Co. NA Sells 259 Shares of nVent Electric plc (NYSE:NVT)

Glenmede Trust Co. NA trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,582 shares of the company’s stock after selling 259 shares during the period. Glenmede Trust Co. NA’s holdings in nVent Electric were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NVT. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. UMB Bank n.a. boosted its position in 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 in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric in the 3rd quarter valued at $29,000. ORG Partners LLC bought a new position in shares of nVent Electric in the 2nd quarter worth $31,000. Finally, First Foundation Advisors purchased a new stake in shares of nVent Electric during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVT shares. KeyCorp boosted their target price 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. Royal Bank of Canada reduced 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 note on Monday, November 4th. Finally, Barclays lowered 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 note on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $85.33.

Insiders Place Their Bets

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction 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 sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is owned by company insiders.

nVent Electric Price Performance

Shares of NVT stock opened at $78.31 on Monday. nVent Electric plc has a fifty-two week low of $52.70 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The firm has a market capitalization of $12.91 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 4.03 and a beta of 1.26. The stock’s 50-day simple moving average is $73.57 and its 200-day simple moving average is $73.07.

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). The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, equities analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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

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.