Integrated Wealth Concepts LLC Sells 1,710 Shares of nVent Electric plc (NYSE:NVT)

Integrated Wealth Concepts LLC reduced its holdings in nVent Electric plc (NYSE:NVT) by 31.3% in the third quarter, HoldingsChannel reports. The firm owned 3,746 shares of the company’s stock after selling 1,710 shares during the period. Integrated Wealth Concepts LLC’s holdings in nVent Electric were worth $263,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NVT. Larson Financial Group LLC increased its stake in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. UMB Bank n.a. grew its holdings in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC bought a new stake in nVent Electric in the third quarter valued at $29,000. ORG Partners LLC acquired a new position in shares of nVent Electric during the second quarter valued at about $31,000. Finally, First Foundation Advisors bought a new position in shares of nVent Electric during the 2nd quarter worth about $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Down 0.8 %

Shares of NYSE:NVT opened at $74.97 on Friday. The business’s 50 day moving average is $74.85 and its 200 day moving average is $72.85. nVent Electric plc has a 12-month low of $55.19 and a 12-month high of $86.57. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 3.88 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm 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%. nVent Electric’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, sell-side 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. Shareholders 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 is currently 22.29%.

Analyst Ratings Changes

NVT has been the subject of a number of research analyst reports. Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup upped their target price on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada lowered their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $85.50.

Insider Transactions at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 in the last 90 days. Insiders own 2.50% of the company’s stock.

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.