Fulton Bank N.A. Has $605,000 Stake in nVent Electric plc (NYSE:NVT)

Fulton Bank N.A. lowered its position in nVent Electric plc (NYSE:NVT) by 7.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,610 shares of the company’s stock after selling 727 shares during the period. Fulton Bank N.A.’s holdings in nVent Electric were worth $605,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NVT. GAMMA Investing LLC boosted its holdings in nVent Electric by 68.5% in the third quarter. GAMMA Investing LLC now owns 1,565 shares of the company’s stock worth $110,000 after purchasing an additional 636 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of nVent Electric by 1.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 608,479 shares of the company’s stock valued at $42,752,000 after acquiring an additional 9,060 shares during the last quarter. Anchor Investment Management LLC increased its holdings in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after acquiring an additional 280 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of nVent Electric in the 2nd quarter valued at approximately $941,000. Finally, Sanctuary Advisors LLC bought a new stake in nVent Electric during the second quarter worth approximately $1,795,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

nVent Electric Price Performance

Shares of nVent Electric stock opened at $70.66 on Wednesday. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The firm has a market cap of $11.73 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The firm’s 50-day simple moving average is $66.34 and its 200-day simple moving average is $73.32.

nVent Electric (NYSE:NVT) last released 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 net margin of 16.59% and a return on equity of 17.21%. The company had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts expect that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 yield of 1.08%. nVent Electric’s dividend payout ratio is 22.16%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. KeyCorp raised shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research report on Wednesday, September 4th. Finally, Barclays lowered their price target 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $85.00.

About nVent Electric

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.