Values First Advisors Inc. Trims Holdings in nVent Electric plc (NYSE:NVT)

Values First Advisors Inc. lowered its holdings in nVent Electric plc (NYSE:NVT) by 43.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,718 shares of the company’s stock after selling 4,473 shares during the period. Values First Advisors Inc.’s holdings in nVent Electric were worth $338,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in nVent Electric by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock worth $619,079,000 after acquiring an additional 302,124 shares in the last quarter. BlackRock Inc. grew its holdings in nVent Electric by 0.8% during the 1st quarter. BlackRock Inc. now owns 15,251,841 shares of the company’s stock worth $654,914,000 after acquiring an additional 128,168 shares in the last quarter. FMR LLC grew its holdings in nVent Electric by 41.8% during the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock worth $347,405,000 after acquiring an additional 1,932,142 shares in the last quarter. State Street Corp grew its holdings in nVent Electric by 1.7% during the 1st quarter. State Street Corp now owns 4,842,509 shares of the company’s stock worth $207,932,000 after acquiring an additional 81,399 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of nVent Electric by 68.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after buying an additional 1,604,534 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT traded down $0.04 during midday trading on Thursday, hitting $75.37. 1,665,935 shares of the stock traded hands, compared to its average volume of 1,238,838. The firm has a market capitalization of $12.44 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34. The business’s 50 day moving average price is $65.67 and its two-hundred day moving average price is $58.03. nVent Electric plc has a 1-year low of $40.19 and a 1-year high of $76.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82.

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

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. nVent Electric’s payout ratio is currently 22.55%.

Insiders Place Their Bets

In other news, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Joseph A. Ruzynski sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at $2,229,228.97. 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 90 days. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NVT shares. The Goldman Sachs Group upped their target price on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a report on Friday, March 15th. Citigroup upped their price objective on shares of nVent Electric from $59.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Royal Bank of Canada increased their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.20.

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.