Janney Montgomery Scott LLC Boosts Stock Holdings in nVent Electric plc (NYSE:NVT)

Janney Montgomery Scott LLC raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 5.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 24,807 shares of the company’s stock after purchasing an additional 1,273 shares during the period. Janney Montgomery Scott LLC’s holdings in nVent Electric were worth $1,743,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. increased its position in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric in the 3rd quarter worth approximately $29,000. ORG Partners LLC purchased a new position in shares of nVent Electric in the 2nd quarter worth approximately $31,000. First Foundation Advisors purchased a new position in shares of nVent Electric in the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of nVent Electric in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

NYSE:NVT opened at $76.60 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 3.91 and a beta of 1.26. The company has a 50 day moving average price of $70.67 and a 200-day moving average price of $73.21. nVent Electric plc has a 1-year low of $52.26 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. Equities research analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

Insider Activity

In other news, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,824 shares of company stock valued at $6,841,316. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVT shares. KeyCorp lifted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays cut their price objective on shares of 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 cut their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $85.33.

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.