Assetmark Inc. Sells 19,361 Shares of nVent Electric plc (NYSE:NVT)

Assetmark Inc. cut its stake in nVent Electric plc (NYSE:NVT) by 89.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,253 shares of the company’s stock after selling 19,361 shares during the quarter. Assetmark Inc.’s holdings in nVent Electric were worth $158,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of nVent Electric in the 2nd quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in shares of nVent Electric in the 3rd quarter worth about $29,000. UMB Bank n.a. increased its stake in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares in the last quarter. First Foundation Advisors bought a new position in shares of nVent Electric in the 2nd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of nVent Electric in the 2nd quarter worth about $34,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $72.82 on Monday. The firm’s 50-day moving average price is $71.40 and its 200-day moving average price is $73.23. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The company has a market cap of $12.00 billion, a PE ratio of 21.35, a PEG ratio of 3.75 and a beta of 1.26. nVent Electric plc has a 52-week low of $52.26 and a 52-week high of $86.57.

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

nVent Electric Dividend Announcement

The business also recently declared 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 1.04%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is presently 22.29%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Barclays reduced their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $85.33.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,824 shares of company stock valued at $6,841,316 in the last 90 days. 2.50% of the stock is currently owned by insiders.

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.