Argyle Capital Management Inc. Lowers Stock Holdings in nVent Electric plc (NYSE:NVT)

Argyle Capital Management Inc. trimmed its position in nVent Electric plc (NYSE:NVT) by 53.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,666 shares of the company’s stock after selling 5,334 shares during the quarter. Argyle Capital Management Inc.’s holdings in nVent Electric were worth $276,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of nVent Electric in the fourth quarter worth about $2,492,000. Citigroup Inc. lifted its holdings in shares of nVent Electric by 73.9% in the third quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock worth $3,782,000 after buying an additional 30,325 shares in the last quarter. Mariner LLC lifted its holdings in shares of nVent Electric by 10.1% in the third quarter. Mariner LLC now owns 24,649 shares of the company’s stock worth $1,306,000 after buying an additional 2,263 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of nVent Electric by 2.0% in the third quarter. LPL Financial LLC now owns 172,171 shares of the company’s stock worth $9,123,000 after buying an additional 3,418 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in nVent Electric by 217.5% in the fourth quarter. Vontobel Holding Ltd. now owns 25,874 shares of the company’s stock valued at $1,529,000 after purchasing an additional 17,724 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NVT shares. Citigroup raised their target price on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays raised their target price on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group raised their target price on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Royal Bank of Canada raised their target price on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at $2,730,334.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares in the company, valued at $21,987.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the sale, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Up 1.7 %

Shares of NYSE NVT opened at $75.69 on Monday. nVent Electric plc has a one year low of $40.19 and a one year high of $78.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The firm’s 50 day simple moving average is $71.51 and its two-hundred day simple moving average is $61.21. The stock has a market capitalization of $12.56 billion, a P/E ratio of 22.46, a PEG ratio of 1.63 and a beta of 1.35.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business had revenue of $861.20 million for the quarter, compared to analysts’ expectations of $866.90 million. During the same period last year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts expect that nVent Electric plc will post 3.24 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is 22.55%.

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.