nVent Electric plc (NYSE:NVT) Stock Position Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in nVent Electric plc (NYSE:NVT) by 374.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,954 shares of the company’s stock after buying an additional 127,813 shares during the period. Victory Capital Management Inc. owned 0.10% of nVent Electric worth $11,379,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Aptus Capital Advisors LLC boosted its holdings in nVent Electric by 14.7% during the third quarter. Aptus Capital Advisors LLC now owns 61,432 shares of the company’s stock worth $4,316,000 after buying an additional 7,882 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in nVent Electric by 18.3% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 5,026 shares of the company’s stock worth $353,000 after purchasing an additional 777 shares during the period. Easterly Investment Partners LLC lifted its position in nVent Electric by 67.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 75,570 shares of the company’s stock worth $5,310,000 after buying an additional 30,496 shares in the last quarter. Principal Financial Group Inc. lifted its position in nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after buying an additional 28,876 shares in the last quarter. Finally, Marks Group Wealth Management Inc purchased a new stake in nVent Electric in the 3rd quarter worth approximately $9,473,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Down 1.6 %

nVent Electric stock opened at $74.27 on Thursday. The company has a market capitalization of $12.24 billion, a P/E ratio of 22.15, a P/E/G ratio of 3.75 and a beta of 1.26. The firm’s fifty day simple moving average is $71.90 and its 200-day simple moving average is $73.25. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 1-year low of $52.26 and a 1-year high of $86.57.

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

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric’s payout ratio is presently 22.29%.

Insider Activity at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric 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 sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric 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 in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,824 shares of company stock worth $6,841,316. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of research analyst reports. Barclays cut their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. KeyCorp increased their target price 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. Finally, Royal Bank of Canada cut their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $85.33.

nVent Electric 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.