MQS Management LLC Sells 1,398 Shares of nVent Electric plc (NYSE:NVT)

MQS Management LLC decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 17.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,517 shares of the company’s stock after selling 1,398 shares during the quarter. MQS Management LLC’s holdings in nVent Electric were worth $458,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Swedbank AB acquired a new stake in nVent Electric during the third quarter worth about $110,663,000. Millennium Management LLC lifted its position in shares of nVent Electric by 159.9% in the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after acquiring an additional 828,425 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares in the last quarter. HM Payson & Co. increased its position in shares of nVent Electric by 109,496.5% during the third quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock valued at $30,801,000 after purchasing an additional 437,986 shares during the period. Finally, DigitalBridge Group Inc. acquired a new position in shares of nVent Electric in the second quarter valued at $21,291,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVT shares. Barclays decreased their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada lowered their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $85.33.

Insider Buying and Selling

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 0.00 % 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 worth $6,841,316 in the last three months. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Up 0.8 %

Shares of NYSE NVT opened at $76.60 on Thursday. nVent Electric plc has a 52-week low of $52.26 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The business has a fifty day moving average of $70.67 and a two-hundred day moving average of $73.21. The stock has a market cap of $12.62 billion, a PE ratio of 22.46, a PEG ratio of 3.91 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced its 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 firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. As a group, equities research analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is currently 22.29%.

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.