Park Avenue Securities LLC Sells 10,604 Shares of nVent Electric plc (NYSE:NVT)

Park Avenue Securities LLC cut its holdings in nVent Electric plc (NYSE:NVT) by 42.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,354 shares of the company’s stock after selling 10,604 shares during the quarter. Park Avenue Securities LLC’s holdings in nVent Electric were worth $978,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Oak Thistle LLC purchased a new stake in nVent Electric in the fourth quarter worth about $1,009,000. Tsfg LLC purchased a new stake in nVent Electric in the fourth quarter worth about $51,000. Miracle Mile Advisors LLC purchased a new stake in nVent Electric in the fourth quarter worth about $760,000. TT International Asset Management LTD lifted its stake in nVent Electric by 20.4% in the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI lifted its stake in nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after acquiring an additional 11,349 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. 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 note on Monday, October 14th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Citigroup lowered their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Barclays raised their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $86.17.

Insider Transactions at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

NYSE NVT opened at $72.36 on Tuesday. The firm’s fifty day simple moving average is $73.20 and its two-hundred day simple moving average is $71.18. 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 12-month low of $55.62 and a 12-month high of $86.57. The firm has a market capitalization of $11.93 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.95 and a beta of 1.27.

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

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $0.20 per share. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, January 17th. nVent Electric’s payout ratio is presently 22.29%.

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.