nVent Electric plc (NYSE:NVT) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC decreased its position in nVent Electric plc (NYSE:NVT) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,386 shares of the company’s stock after selling 345 shares during the period. Diversify Advisory Services LLC’s holdings in nVent Electric were worth $233,000 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. Franklin Resources Inc. raised its position in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. State Street Corp increased its stake in shares of nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after purchasing an additional 42,465 shares in the last quarter. Geode Capital Management LLC raised its position in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares during the last quarter. Janus Henderson Group PLC lifted its stake in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after buying an additional 466,042 shares in the last quarter. Finally, Clean Energy Transition LLP boosted its holdings in nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after buying an additional 813,909 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 0.3 %

Shares of NVT stock opened at $75.20 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The company’s 50-day moving average price is $73.06 and its 200-day moving average price is $71.16. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 3.47 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate 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 net margin of 16.95% and a return on equity of 15.66%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. As a group, equities analysts predict that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $0.20 dividend. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. nVent Electric’s payout ratio is presently 23.46%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the sale, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 over the last ninety days. Corporate 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.