SG Americas Securities LLC Decreases Stake in nVent Electric plc (NYSE:NVT)

SG Americas Securities LLC reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 85.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,789 shares of the company’s stock after selling 32,879 shares during the period. SG Americas Securities LLC’s holdings in nVent Electric were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in NVT. Millennium Management LLC boosted its position in shares of nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after purchasing an additional 828,425 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after buying an additional 673,990 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of nVent Electric during the 1st quarter worth $22,784,000. DigitalBridge Group Inc. acquired a new position in shares of nVent Electric during the 2nd quarter worth $21,291,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of nVent Electric by 47.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 783,462 shares of the company’s stock worth $60,021,000 after buying an additional 253,871 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at nVent Electric

In related news, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Herbert K. Parker bought 7,566 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

nVent Electric Trading Up 2.4 %

Shares of NYSE:NVT opened at $76.10 on Friday. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The firm has a market cap of $12.63 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.47 and a beta of 1.27. The company has a 50 day moving average of $67.61 and a 200-day moving average of $73.26. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. As a group, analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. nVent Electric’s dividend payout ratio (DPR) is 22.16%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVT. KeyCorp boosted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday. Barclays cut their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $85.67.

nVent Electric Company Profile

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.