Hancock Whitney Corp Sells 2,603 Shares of nVent Electric plc (NYSE:NVT)

Hancock Whitney Corp reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 10.3% during the 1st quarter, HoldingsChannel reports. The fund owned 22,723 shares of the company’s stock after selling 2,603 shares during the period. Hancock Whitney Corp’s holdings in nVent Electric were worth $1,713,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its position in shares of nVent Electric by 15.5% during the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after buying an additional 10,135 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of nVent Electric during the fourth quarter valued at approximately $2,492,000. Jump Financial LLC boosted its position in shares of nVent Electric by 194.1% during the fourth quarter. Jump Financial LLC now owns 39,432 shares of the company’s stock valued at $2,330,000 after buying an additional 26,024 shares during the period. Mountain Pacific Investment Advisers Inc. ID boosted its position in shares of nVent Electric by 85.1% during the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock valued at $8,794,000 after buying an additional 53,633 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after buying an additional 8,489 shares during the period. 90.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NVT. Barclays boosted their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. The Goldman Sachs Group boosted their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Royal Bank of Canada lowered their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

nVent Electric Stock Down 5.1 %

nVent Electric stock traded down $3.72 during mid-day trading on Thursday, reaching $68.91. 1,531,779 shares of the company were exchanged, compared to its average volume of 1,422,849. The business has a fifty day moving average of $77.65 and a 200 day moving average of $72.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The firm has a market cap of $11.44 billion, a P/E ratio of 20.49, a PEG ratio of 1.52 and a beta of 1.31. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The company had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. nVent Electric’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Research analysts anticipate that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, July 19th. nVent Electric’s payout ratio is presently 22.16%.

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.