Rempart Asset Management Inc. Has $20.50 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

Rempart Asset Management Inc. lowered its stake in shares of nVent Electric plc (NYSE:NVT) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 300,750 shares of the company’s stock after selling 12,570 shares during the period. nVent Electric makes up 4.1% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Rempart Asset Management Inc.’s holdings in nVent Electric were worth $20,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVT. Larson Financial Group LLC raised its position in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. raised its holdings in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of nVent Electric in the third quarter valued at $29,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of nVent Electric during the second quarter valued at about $34,000. Finally, First Foundation Advisors bought a new stake in shares of nVent Electric during the second quarter worth about $34,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NYSE:NVT traded down $2.17 during midday trading on Wednesday, reaching $68.23. The company had a trading volume of 249,543 shares, compared to its average volume of 978,783. nVent Electric plc has a 52-week low of $55.19 and a 52-week high of $86.57. The company’s 50 day moving average price is $73.73 and its 200 day moving average price is $71.54. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The stock has a market cap of $11.25 billion, a P/E ratio of 20.01, a P/E/G ratio of 3.86 and a beta of 1.27.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during 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%. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. As a group, sell-side analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, January 17th. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.17%. nVent Electric’s dividend payout ratio is 23.46%.

Insiders Place Their Bets

In other news, 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 value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on NVT. KeyCorp raised their price target 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. Royal Bank of Canada lifted their target price on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup increased their price target on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Barclays lifted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus 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.