Captrust Financial Advisors Trims Stock Position in nVent Electric plc (NYSE:NVT)

Captrust Financial Advisors lowered its position in shares of nVent Electric plc (NYSE:NVT) by 10.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,106 shares of the company’s stock after selling 972 shares during the period. Captrust Financial Advisors’ holdings in nVent Electric were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVT. CWM LLC grew its stake in nVent Electric by 132.0% in the 2nd quarter. CWM LLC now owns 2,513 shares of the company’s stock worth $193,000 after buying an additional 1,430 shares in the last quarter. QRG Capital Management Inc. grew its stake in nVent Electric by 22.7% in the 2nd quarter. QRG Capital Management Inc. now owns 3,938 shares of the company’s stock worth $302,000 after buying an additional 729 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in nVent Electric by 2.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,445 shares of the company’s stock worth $2,332,000 after buying an additional 657 shares in the last quarter. ORG Partners LLC purchased a new position in nVent Electric in the 2nd quarter worth approximately $31,000. Finally, Envestnet Portfolio Solutions Inc. grew its stake in nVent Electric by 10.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,720 shares of the company’s stock worth $1,128,000 after buying an additional 1,333 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NVT. Royal Bank of Canada cut their price target 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. KeyCorp boosted 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. Citigroup boosted their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays boosted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Six research 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 an average price target of $85.50.

nVent Electric Trading Up 1.2 %

NYSE:NVT opened at $75.32 on Thursday. The company has a fifty day moving average of $74.69 and a 200 day moving average of $72.83. nVent Electric plc has a 52 week low of $55.19 and a 52 week high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $12.41 billion, a P/E ratio of 22.09, a P/E/G ratio of 3.96 and a beta of 1.25.

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). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the prior 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. On average, research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. nVent Electric’s dividend payout ratio is currently 22.29%.

Insider Activity at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 in the last three months. 2.50% of the stock is 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.