World Investment Advisors LLC Purchases New Stake in nVent Electric plc (NYSE:NVT)

World Investment Advisors LLC purchased a new stake in shares of nVent Electric plc (NYSE:NVT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,475 shares of the company’s stock, valued at approximately $314,000.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in shares of nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after acquiring an additional 25,482 shares in the last quarter. Geode Capital Management LLC raised its position in nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after purchasing an additional 29,794 shares during the period. Fifth Third Bancorp lifted its stake in shares of nVent Electric by 43.5% during the second quarter. Fifth Third Bancorp now owns 1,951 shares of the company’s stock worth $149,000 after purchasing an additional 591 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of nVent Electric by 101.2% in the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock worth $27,484,000 after buying an additional 180,488 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of nVent Electric in the second quarter valued at about $606,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVT has been the topic of several recent research reports. Citigroup boosted their price target on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Barclays raised their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, KeyCorp boosted their price objective 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $85.50.

Insider Buying and Selling at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the business’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 directly owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 over the last quarter. 2.50% of the stock is owned by corporate insiders.

nVent Electric Stock Down 4.6 %

NVT stock opened at $69.29 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $75.02 and a 200-day simple moving average of $72.50. The company has a market capitalization of $11.42 billion, a P/E ratio of 20.32, a PEG ratio of 3.86 and a beta of 1.25. nVent Electric plc has a twelve month low of $55.19 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. On average, equities research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.20 dividend. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s payout ratio is currently 22.29%.

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.