nVent Electric plc (NYSE:NVT) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its stake in nVent Electric plc (NYSE:NVT) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,306 shares of the company’s stock after selling 863 shares during the quarter. Pathstone Holdings LLC’s holdings in nVent Electric were worth $1,708,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of NVT. Swedbank AB acquired a new stake in nVent Electric during the third quarter valued at approximately $110,663,000. Millennium Management LLC increased its holdings in shares of nVent Electric by 159.9% in the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after acquiring an additional 828,425 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after acquiring an additional 673,990 shares in the last quarter. HM Payson & Co. lifted its stake in nVent Electric by 109,496.5% during the third quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock worth $30,801,000 after purchasing an additional 437,986 shares during the last quarter. Finally, DigitalBridge Group Inc. acquired a new position in nVent Electric in the second quarter worth $21,291,000. Institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Down 1.9 %

NVT stock opened at $76.53 on Thursday. The stock has a market cap of $12.61 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26. The firm’s 50-day simple moving average is $73.30 and its 200 day simple moving average is $73.20. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week 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.

nVent Electric (NYSE:NVT) last announced 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). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. As a group, sell-side analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Wall Street Analysts Forecast Growth

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

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.