Outfitter Financial LLC Sells 4,240 Shares of nVent Electric plc (NYSE:NVT)

Outfitter Financial LLC trimmed its holdings in nVent Electric plc (NYSE:NVT) by 9.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 41,214 shares of the company’s stock after selling 4,240 shares during the quarter. nVent Electric makes up 2.2% of Outfitter Financial LLC’s investment portfolio, making the stock its 12th largest position. Outfitter Financial LLC’s holdings in nVent Electric were worth $2,809,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NVT. Allianz Asset Management GmbH boosted its holdings in nVent Electric by 83.2% in the fourth quarter. Allianz Asset Management GmbH now owns 586,370 shares of the company’s stock worth $39,967,000 after purchasing an additional 266,267 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of nVent Electric in the fourth quarter worth about $511,000. ING Groep NV bought a new stake in shares of nVent Electric during the 4th quarter worth about $1,418,000. Private Advisor Group LLC increased its holdings in shares of nVent Electric by 15.3% during the 4th quarter. Private Advisor Group LLC now owns 8,383 shares of the company’s stock valued at $571,000 after acquiring an additional 1,111 shares during the last quarter. Finally, Good Life Advisors LLC increased its holdings in shares of nVent Electric by 5.2% during the 4th quarter. Good Life Advisors LLC now owns 40,892 shares of the company’s stock valued at $2,787,000 after acquiring an additional 2,004 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVT shares. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. 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 report on Monday, January 13th. Finally, Barclays raised their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $86.33.

Insider Activity at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade 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. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Stock Down 1.7 %

NVT opened at $66.57 on Friday. nVent Electric plc has a 1-year low of $56.44 and a 1-year high of $86.57. The business has a 50 day moving average of $69.09 and a 200-day moving average of $70.12. The stock has a market capitalization of $10.98 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 1.51 and a beta of 1.26. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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%. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.20%. nVent Electric’s dividend payout ratio is 40.82%.

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.