Portside Wealth Group LLC Has $489,000 Position in nVent Electric plc (NYSE:NVT)

Portside Wealth Group LLC lessened its holdings in nVent Electric plc (NYSE:NVT) by 19.7% during the third quarter, Holdings Channel reports. The fund owned 6,955 shares of the company’s stock after selling 1,704 shares during the period. Portside Wealth Group LLC’s holdings in nVent Electric were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after purchasing an additional 673,990 shares during the period. Boston Partners boosted its holdings in shares of nVent Electric by 3.2% during the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock worth $250,770,000 after buying an additional 102,643 shares during the period. Principal Financial Group Inc. grew its stake in nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after buying an additional 28,876 shares during the last quarter. Swedbank AB bought a new position in nVent Electric in the 3rd quarter valued at about $110,663,000. Finally, Millennium Management LLC lifted its position in nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after acquiring an additional 828,425 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the topic of several research reports. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. KeyCorp increased their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $85.33.

nVent Electric Trading Down 1.1 %

Shares of NYSE:NVT opened at $76.95 on Friday. The business’s 50 day simple moving average is $70.23 and its 200 day simple moving average is $73.19. nVent Electric plc has a 1 year low of $49.93 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company has a market capitalization of $12.68 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.97 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (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 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.29%.

Insider Activity

In related news, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Herbert K. Parker bought 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,323 shares of company stock worth $6,994,965. 2.50% of the stock is currently owned by corporate insiders.

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.