nVent Electric plc (NYSE:NVT) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC lowered its stake in shares of nVent Electric plc (NYSE:NVT) by 53.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,000 shares of the company’s stock after selling 24,000 shares during the period. Wolverine Asset Management LLC’s holdings in nVent Electric were worth $1,241,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its position in nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the period. HM Payson & Co. purchased a new position in shares of nVent Electric in the 3rd quarter worth about $26,000. Arlington Trust Co LLC purchased a new position in shares of nVent Electric in the 3rd quarter worth about $30,000. Pacific Center for Financial Services purchased a new position in shares of nVent Electric in the 3rd quarter worth about $32,000. Finally, Baystate Wealth Management LLC purchased a new position in shares of nVent Electric in the 3rd quarter worth about $33,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In other news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares in the company, valued at approximately $2,313,114.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares in the company, valued at approximately $2,313,114.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Insiders sold a total of 400,252 shares of company stock worth $25,713,777 in the last 90 days. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. Royal Bank of Canada raised their price objective on nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group raised their target price on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a report on Friday, March 15th. Barclays raised their target price on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Citigroup raised their target price on nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.60.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $74.45 on Friday. The company has a market cap of $12.36 billion, a P/E ratio of 22.09, a PEG ratio of 1.59 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. nVent Electric plc has a one year low of $40.19 and a one year high of $78.98. The business’s 50-day simple moving average is $71.27 and its 200 day simple moving average is $60.95.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. During the same quarter last year, the firm earned $0.66 EPS. nVent Electric’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts forecast that nVent Electric plc will post 3.24 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric’s dividend payout ratio (DPR) is presently 22.55%.

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.