nVent Electric plc (NYSE:NVT) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC trimmed its position in shares of nVent Electric plc (NYSE:NVT) by 13.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,768 shares of the company’s stock after selling 1,066 shares during the period. OneAscent Wealth Management LLC’s holdings in nVent Electric were worth $510,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new position in nVent Electric in the 4th quarter worth $2,492,000. Citigroup Inc. raised its position in shares of nVent Electric by 73.9% in the 3rd quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock valued at $3,782,000 after purchasing an additional 30,325 shares in the last quarter. Jump Financial LLC boosted its stake in shares of nVent Electric by 194.1% during the 4th quarter. Jump Financial LLC now owns 39,432 shares of the company’s stock valued at $2,330,000 after buying an additional 26,024 shares during the last quarter. Mariner LLC grew its position in shares of nVent Electric by 10.1% during the third quarter. Mariner LLC now owns 24,649 shares of the company’s stock worth $1,306,000 after buying an additional 2,263 shares in the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID increased its stake in shares of nVent Electric by 85.1% in the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock worth $8,794,000 after buying an additional 53,633 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Price Performance

NVT traded up $0.47 during trading on Friday, hitting $76.61. The company’s stock had a trading volume of 2,117,374 shares, compared to its average volume of 1,538,346. The firm’s 50 day moving average price is $78.70 and its two-hundred day moving average price is $69.77. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.76 and a beta of 1.31. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. During the same period last year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts forecast that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.19 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 0.99%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NVT shares. The Goldman Sachs Group boosted their price target on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada dropped their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Finally, Barclays boosted their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, nVent Electric presently has an average rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric 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.