Nilsine Partners LLC Trims Stock Position in nVent Electric plc (NYSE:NVT)

Nilsine Partners LLC lowered its holdings in shares of nVent Electric plc (NYSE:NVT) by 7.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,257 shares of the company’s stock after selling 337 shares during the quarter. Nilsine Partners LLC’s holdings in nVent Electric were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC increased its position in shares of nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. HM Payson & Co. purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $26,000. Banque Cantonale Vaudoise purchased a new stake in shares of nVent Electric during the 1st quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new stake in shares of nVent Electric during the 4th quarter valued at about $28,000. Finally, Arlington Trust Co LLC purchased a new stake in nVent Electric in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other nVent Electric news, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock valued at $25,713,777 over the last three months. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on NVT. The Goldman Sachs Group increased their target price on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada increased their target price on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Citigroup increased their target price on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. Finally, Barclays increased their target price on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, nVent Electric presently has an average rating of “Moderate Buy” and an average price target of $81.60.

nVent Electric Price Performance

NVT stock traded down $3.22 during midday trading on Tuesday, hitting $72.06. The company’s stock had a trading volume of 2,227,327 shares, compared to its average volume of 1,271,947. nVent Electric plc has a 12 month low of $40.22 and a 12 month high of $78.98. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. The company has a 50 day moving average of $71.93 and a two-hundred day moving average of $61.51.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The firm had revenue of $861.20 million during the quarter, compared to the consensus estimate of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, analysts expect that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. nVent Electric’s dividend payout ratio is presently 22.55%.

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.