nVent Electric plc (NYSE:NVT) Shares Sold by Burney Co.

Burney Co. cut its stake in nVent Electric plc (NYSE:NVT) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,359 shares of the company’s stock after selling 3,398 shares during the period. Burney Co.’s holdings in nVent Electric were worth $9,431,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NVT. Larson Financial Group LLC grew its position in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in nVent Electric in the 3rd quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in nVent Electric during the 2nd quarter worth $34,000. Finally, Anchor Investment Management LLC boosted its position in nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares during the period. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Up 2.1 %

Shares of NVT opened at $71.41 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. The stock has a market capitalization of $11.77 billion, a P/E ratio of 20.94, a P/E/G ratio of 3.86 and a beta of 1.27. The business’s 50-day moving average price is $73.55 and its 200 day moving average price is $71.27.

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

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

Insider Activity

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the company’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 value of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction 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 sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NVT. Barclays lifted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada boosted their price target on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup reduced their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Finally, KeyCorp lifted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $86.17.

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.