BNP Paribas Financial Markets Buys 874 Shares of nVent Electric plc (NYSE:NVT)

BNP Paribas Financial Markets boosted its stake in nVent Electric plc (NYSE:NVT) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,369 shares of the company’s stock after acquiring an additional 874 shares during the quarter. BNP Paribas Financial Markets’ holdings in nVent Electric were worth $5,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVT. Larson Financial Group LLC lifted its holdings in shares of nVent Electric by 91.9% in 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. ORG Partners LLC acquired a new stake in nVent Electric in the 2nd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new position in nVent Electric during the 3rd quarter worth approximately $29,000. 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 worth $29,000 after acquiring an additional 308 shares during the last quarter. Finally, First Foundation Advisors bought a new position in shares of nVent Electric during the 2nd quarter worth approximately $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. 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, KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Stock Performance

Shares of NVT opened at $78.18 on Wednesday. The company has a market cap of $12.89 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 3.99 and a beta of 1.25. The firm has a 50-day moving average of $73.89 and a 200-day moving average of $73.04. nVent Electric plc has a one year low of $53.49 and a one year high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

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

nVent Electric Dividend Announcement

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

Insider Buying and Selling at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly 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. Insiders sold 96,382 shares of company stock valued at $7,365,956 in the last quarter. 2.50% of the stock is currently owned by insiders.

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.