Raymond James & Associates Has $18.82 Million Stock Position in nVent Electric plc (NYSE:NVT)

Raymond James & Associates lessened its position in nVent Electric plc (NYSE:NVT) by 10.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 267,788 shares of the company’s stock after selling 29,893 shares during the period. Raymond James & Associates owned approximately 0.16% of nVent Electric worth $18,815,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB acquired a new position in nVent Electric during the 3rd quarter valued at about $110,663,000. Millennium Management LLC grew its holdings in nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after buying an additional 828,425 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 valued at $374,201,000 after buying an additional 673,990 shares during the last quarter. Jennison Associates LLC bought a new position in nVent Electric during the 1st quarter valued at $22,784,000. Finally, DigitalBridge Group Inc. purchased a new position in nVent Electric during the 2nd quarter worth $21,291,000. Institutional investors own 90.05% of the company’s stock.

Insider Activity

In related news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction on 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 directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were bought 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 represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Down 1.1 %

Shares of NVT stock opened at $73.34 on Friday. The company has a 50 day moving average of $68.73 and a 200-day moving average of $73.16. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57. The firm has a market cap of $12.18 billion, a P/E ratio of 21.38, a PEG ratio of 1.50 and a beta of 1.27. The company has a quick ratio of 1.49, a current ratio of 2.17 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 analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. During the same period in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. nVent Electric’s payout ratio is 22.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada lowered their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. KeyCorp upped 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. Finally, Barclays dropped their target price 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently 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.