Ballentine Partners LLC Has $239,000 Stock Position in nVent Electric plc (NYSE:NVT)

Ballentine Partners LLC increased its position in nVent Electric plc (NYSE:NVT) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,502 shares of the company’s stock after purchasing an additional 431 shares during the quarter. Ballentine Partners LLC’s holdings in nVent Electric were worth $239,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in NVT. Geode Capital Management LLC boosted its holdings in nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in nVent Electric in the 4th quarter valued at $1,520,000. TT International Asset Management LTD increased its stake in nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI raised its holdings in nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

nVent Electric stock opened at $74.81 on Friday. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The company’s 50 day moving average price is $73.12 and its two-hundred day moving average price is $71.18. The stock has a market cap of $12.33 billion, a P/E ratio of 21.94, a P/E/G ratio of 3.49 and a beta of 1.27. 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 issued 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 business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. On average, equities analysts predict that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

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.