Thrivent Financial for Lutherans Purchases 67,489 Shares of nVent Electric plc (NYSE:NVT)

Thrivent Financial for Lutherans grew its position in nVent Electric plc (NYSE:NVT) by 18.6% in the third quarter, HoldingsChannel.com reports. The fund owned 429,615 shares of the company’s stock after buying an additional 67,489 shares during the period. Thrivent Financial for Lutherans’ holdings in nVent Electric were worth $30,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. grew its position 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 acquiring an additional 167,632 shares during the period. CIBC Asset Management Inc boosted its holdings 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 worth $339,000 after buying an additional 166 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of nVent Electric by 27.1% during the 3rd quarter. Impax Asset Management Group plc now owns 22,601 shares of the company’s stock worth $1,588,000 after buying an additional 4,812 shares during the period. Huntington National Bank boosted its holdings 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 buying an additional 223 shares during the period. Finally, KBC Group NV boosted its holdings in shares of nVent Electric by 447.8% during the 3rd quarter. KBC Group NV now owns 126,724 shares of the company’s stock worth $8,904,000 after buying an additional 103,592 shares during the period. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NVT shares. KeyCorp lifted their target price on shares of 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 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 report on Monday, November 4th. Finally, Barclays reduced their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $85.33.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $75.52 on Wednesday. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $71.63 and a two-hundred day simple moving average of $73.26. The stock has a market capitalization of $12.45 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data 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 return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the firm earned $0.84 EPS. nVent Electric’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts forecast 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. Shareholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Insiders Place Their Bets

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,824 shares of company stock worth $6,841,316 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.

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.