Congress Asset Management Co. Sells 67,511 Shares of nVent Electric plc (NYSE:NVT)

Congress Asset Management Co. lessened its holdings in shares of nVent Electric plc (NYSE:NVT) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,674,445 shares of the company’s stock after selling 67,511 shares during the period. Congress Asset Management Co. owned 1.02% of nVent Electric worth $114,130,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NVT. MassMutual Private Wealth & Trust FSB boosted its stake in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares during the period. CIBC Asset Management Inc boosted its stake in nVent Electric by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after purchasing an additional 166 shares during the period. Calamos Advisors LLC boosted its stake in nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares during the period. Larson Financial Group LLC boosted its stake in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Finally, Huntington National Bank boosted its stake in nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Up 1.6 %

Shares of NYSE:NVT opened at $68.40 on Friday. The company’s 50-day moving average price is $69.67 and its two-hundred day moving average price is $70.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.36. nVent Electric plc has a one year low of $56.44 and a one year high of $86.57. The stock has a market capitalization of $11.27 billion, a PE ratio of 34.90, a price-to-earnings-growth ratio of 3.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities analysts forecast that nVent Electric plc will post 3.03 EPS for the current fiscal year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, January 17th. nVent Electric’s dividend payout ratio is presently 40.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays boosted their price target 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. Finally, Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $86.33.

Insider Activity

In other news, Director Jerry W. Burris sold 6,558 shares of the company’s 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 sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % 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. 2.50% of the stock is owned by insiders.

About nVent Electric

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.