Principal Securities Inc. Sells 9,902 Shares of nVent Electric plc (NYSE:NVT)

Principal Securities Inc. lowered its holdings in shares of nVent Electric plc (NYSE:NVT) by 44.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,605 shares of the company’s stock after selling 9,902 shares during the quarter. Principal Securities Inc.’s holdings in nVent Electric were worth $859,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Crews Bank & Trust acquired a new stake in nVent Electric in the 4th quarter valued at approximately $26,000. Larson Financial Group LLC grew its stake in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. Huntington National Bank grew its stake in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares in the last quarter. Brooklyn Investment Group bought a new position in nVent Electric in the third quarter valued at approximately $44,000. Finally, Tsfg LLC bought a new position in nVent Electric in the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by insiders.

nVent Electric Price Performance

Shares of NYSE NVT opened at $66.57 on Friday. The stock has a market capitalization of $10.97 billion, a PE ratio of 33.96, a P/E/G ratio of 1.54 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The business has a fifty day moving average price of $69.27 and a two-hundred day moving average price of $70.14. nVent Electric plc has a fifty-two week low of $56.44 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Analysts Set New Price Targets

NVT has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays lifted their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup reduced their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $86.33.

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.