nVent Electric PLC $NVT Stock: Park Avenue Securities LLC Lowers Holdings

Park Avenue Securities LLC cut its holdings in shares of nVent Electric PLC (NYSE:NVT) by 17.5% in the 3rd quarter, Holdings Channel reports. The firm owned 27,727 shares of the company’s stock after selling 5,898 shares during the period. Park Avenue Securities LLC’s holdings in nVent Electric were worth $4,447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC grew its position in nVent Electric by 554.5% in the second quarter. Elevation Wealth Partners LLC now owns 216 shares of the company’s stock valued at $37,000 after acquiring an additional 183 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of nVent Electric by 236.1% during the second quarter. MCF Advisors LLC now owns 242 shares of the company’s stock worth $41,000 after purchasing an additional 170 shares during the period. Financial Consulate Inc. lifted its holdings in nVent Electric by 1,431.2% during the 2nd quarter. Financial Consulate Inc. now owns 245 shares of the company’s stock worth $42,000 after buying an additional 229 shares during the period. Basecamp Wealth Advisors LLC increased its position in nVent Electric by 136.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 371 shares of the company’s stock valued at $44,000 after purchasing an additional 214 shares during the period. Finally, NFSG Corp raised its stake in nVent Electric by 241.5% during the first quarter. NFSG Corp now owns 403 shares of the company’s stock worth $48,000 after buying an additional 285 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Down 1.5%

Shares of nVent Electric stock opened at $137.96 on Friday. The stock’s 50-day simple moving average is $153.45 and its 200 day simple moving average is $144.26. nVent Electric PLC has a 52-week low of $93.22 and a 52-week high of $184.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.33 and a current ratio of 1.80. The stock has a market capitalization of $22.33 billion, a P/E ratio of 37.69, a P/E/G ratio of 0.76 and a beta of 1.35.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, July 31st. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.16 by $0.29. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm earned $0.86 EPS. nVent Electric’s revenue for the quarter was up 52.8% on a year-over-year basis. As a group, research analysts anticipate that nVent Electric PLC will post 5.17 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 23rd. nVent Electric’s dividend payout ratio is 22.95%.

Insider Buying and Selling

In related news, CAO Randolph Wacker sold 22,525 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $164.62, for a total value of $3,708,065.50. Following the sale, the chief accounting officer owned 27,441 shares in the company, valued at approximately $4,517,337.42. This trade represents a 45.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert van der Kolk sold 5,858 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $164.32, for a total transaction of $962,586.56. Following the completion of the transaction, the insider owned 27,387 shares in the company, valued at approximately $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 74,644 shares of company stock worth $12,276,886. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NVT shares. The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 price target on shares of nVent Electric in a research note on Saturday, August 1st. BMO Capital Markets began coverage on nVent Electric in a report on Sunday, October 4th. They set an “outperform” rating and a $212.00 price target for the company. Wells Fargo & Company assumed coverage on shares of nVent Electric in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $182.00 price objective for the company. Seaport Research Partners reiterated a “neutral” rating and set a $225.00 price target on shares of nVent Electric in a report on Monday, October 12th. Finally, Royal Bank Of Canada lifted their price target on nVent Electric from $200.00 to $208.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $198.24.

About nVent Electric

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.