nVent Electric plc (NYSE:NVT) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 42.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,354 shares of the company’s stock after selling 10,604 shares during the period. Park Avenue Securities LLC’s holdings in nVent Electric were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in 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 during the period. ORG Wealth Partners LLC acquired a new position in shares of nVent Electric in the third quarter worth about $29,000. UMB Bank n.a. raised its position in shares of 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 acquiring an additional 308 shares during the period. Anchor Investment Management LLC raised its position in shares of nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares during the period. Finally, Huntington National Bank raised its position in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVT has been the subject of a number of analyst reports. Barclays upped their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup decreased their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.17.

nVent Electric Stock Up 1.3 %

NVT stock opened at $72.36 on Tuesday. The stock has a market capitalization of $11.93 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.95 and a beta of 1.27. The firm has a 50-day simple moving average of $73.20 and a 200-day simple moving average of $71.18. 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 plc has a 52 week low of $55.62 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT) last released its 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 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 earned $0.84 EPS. Equities analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.20 dividend. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. nVent Electric’s dividend payout ratio is presently 22.29%.

Insider Buying and Selling at nVent Electric

In other nVent Electric 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 completion of the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the 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 of the company’s stock, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,382 shares of company stock worth $7,365,956. Insiders own 2.50% of the company’s stock.

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.