nVent Electric plc (NYSE:NVT) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL cut its stake in shares of nVent Electric plc (NYSE:NVT) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,696 shares of the company’s stock after selling 193 shares during the period. Chesapeake Capital Corp IL’s holdings in nVent Electric were worth $404,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. raised its holdings in shares of nVent Electric by 32.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 684,732 shares of the company’s stock valued at $48,110,000 after buying an additional 167,632 shares during the period. CIBC Asset Management Inc increased its holdings in shares of nVent Electric by 3.6% in 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 last quarter. Impax Asset Management Group plc increased its holdings in shares of nVent Electric by 27.1% in the 3rd quarter. Impax Asset Management Group plc now owns 22,601 shares of the company’s stock valued at $1,588,000 after acquiring an additional 4,812 shares during the last quarter. Huntington National Bank increased its holdings in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of nVent Electric by 447.8% in the 3rd quarter. KBC Group NV now owns 126,724 shares of the company’s stock valued at $8,904,000 after purchasing an additional 103,592 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction on 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 owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,824 shares of company stock valued at $6,841,316 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their price target 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. Finally, KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Stock Performance

Shares of NVT stock opened at $72.82 on Monday. nVent Electric plc has a one year low of $52.26 and a one year 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 company has a 50 day moving average price of $71.40 and a 200 day moving average price of $73.23. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period last year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend 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.