Park Avenue Securities LLC Lowers Holdings in nVent Electric plc (NYSE:NVT)

Park Avenue Securities LLC lowered its stake in shares of nVent Electric plc (NYSE:NVT) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,958 shares of the company’s stock after selling 1,992 shares during the quarter. Park Avenue Securities LLC’s holdings in nVent Electric were worth $1,754,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of nVent Electric by 16.0% in 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 period. Boston Partners increased its holdings in shares of nVent Electric by 3.2% in the first quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after purchasing an additional 102,643 shares during the last quarter. Congress Asset Management Co. MA increased its stake in nVent Electric by 1.2% during the first quarter. Congress Asset Management Co. MA now owns 2,219,332 shares of the company’s stock worth $167,338,000 after acquiring an additional 26,897 shares during the last quarter. Fiduciary Management Inc. WI grew its stake in shares of nVent Electric by 1.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,772,270 shares of the company’s stock valued at $104,723,000 after buying an additional 31,621 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of nVent Electric by 2.5% in the second quarter. Principal Financial Group Inc. now owns 1,734,378 shares of the company’s stock valued at $132,869,000 after buying an additional 42,391 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of several research reports. KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average target price of $85.00.

Insider Buying and Selling

In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

NYSE NVT opened at $71.76 on Tuesday. The stock has a market capitalization of $11.91 billion, a P/E ratio of 20.92, a P/E/G ratio of 1.35 and a beta of 1.27. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The business’s fifty day moving average is $66.32 and its two-hundred day moving average is $73.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

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

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.16%.

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.