nVent Electric PLC $NVT Shares Sold by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC reduced its stake in nVent Electric PLC (NYSE:NVT) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,828 shares of the company’s stock after selling 4,889 shares during the quarter. nVent Electric makes up approximately 2.0% of Mountain Pacific Investment Advisers LLC’s investment portfolio, making the stock its 13th largest position. Mountain Pacific Investment Advisers LLC’s holdings in nVent Electric were worth $12,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in shares of nVent Electric by 4.9% during the 2nd quarter. State Street Corp now owns 5,313,122 shares of the company’s stock worth $901,159,000 after acquiring an additional 250,248 shares during the period. Bank of New York Mellon Corp boosted its position in shares of nVent Electric by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock valued at $238,758,000 after acquiring an additional 68,818 shares during the last quarter. First Trust Advisors LP boosted its position in shares of nVent Electric by 32.8% during the 1st quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock valued at $200,647,000 after acquiring an additional 419,239 shares during the last quarter. Amundi grew its holdings in shares of nVent Electric by 146.8% in the first quarter. Amundi now owns 1,092,802 shares of the company’s stock valued at $129,257,000 after purchasing an additional 649,992 shares during the period. Finally, Swedbank AB grew its holdings in shares of nVent Electric by 46.8% in the first quarter. Swedbank AB now owns 854,040 shares of the company’s stock valued at $101,016,000 after purchasing an additional 272,379 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NYSE NVT opened at $129.28 on Wednesday. The stock has a market cap of $20.89 billion, a PE ratio of 31.15, a P/E/G ratio of 0.64 and a beta of 1.39. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64. The stock has a fifty day simple moving average of $151.83 and a 200-day simple moving average of $144.56.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.43 billion. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. nVent Electric’s revenue was up 43.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities analysts anticipate that nVent Electric PLC will post 5.39 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 23rd. nVent Electric’s dividend payout ratio (DPR) is 20.24%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVT. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $233.00 target price on shares of nVent Electric in a research note on Monday. Wolfe Research reiterated an “outperform” rating and issued a $191.00 target price on shares of nVent Electric in a report on Thursday, July 9th. Weiss Ratings cut shares of nVent Electric from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Robert W. Baird increased their price target on shares of nVent Electric from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, BMO Capital Markets began coverage on shares of nVent Electric in a report on Sunday, October 4th. They set an “outperform” rating and a $212.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $197.82.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Robert van der Kolk sold 5,858 shares of nVent Electric stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the completion of the sale, the insider directly owned 27,387 shares in the company, valued at $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

nVent Electric Profile

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.