Alan B Lancz & Associates Inc. Cuts Stock Position in nVent Electric plc (NYSE:NVT)

Alan B Lancz & Associates Inc. cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,442 shares of the company’s stock after selling 300 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in nVent Electric were worth $303,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its position in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the period. CIBC Asset Management Inc grew its position in shares of nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after acquiring an additional 166 shares during the period. Larson Financial Group LLC increased its stake in shares of nVent Electric by 91.9% during the 3rd 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 last quarter. Huntington National Bank increased its stake in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares during the last quarter. Finally, Anchor Investment Management LLC raised its holdings in shares of nVent Electric by 94.0% in the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after purchasing an additional 280 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVT shares. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report 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 company an “outperform” rating in a report on Friday, January 3rd. Finally, Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric has an average rating of “Buy” and a consensus target price of $86.17.

Insider Transactions at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by company insiders.

nVent Electric Stock Performance

NYSE:NVT opened at $74.81 on Friday. The business’s fifty day moving average is $73.12 and its 200 day moving average is $71.18. The firm has a market cap of $12.33 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 3.49 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 52-week low of $56.44 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.20 per share. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, January 17th. nVent Electric’s payout ratio is 23.46%.

nVent Electric Company 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.