nVent Electric plc (NYSE:NVT) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC reduced its holdings in nVent Electric plc (NYSE:NVT) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,444 shares of the company’s stock after selling 620 shares during the quarter. Annex Advisory Services LLC’s holdings in nVent Electric were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC increased its stake in nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after purchasing an additional 157 shares during the last quarter. HMS Capital Management LLC increased its stake in nVent Electric by 3.2% in the first quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock valued at $440,000 after purchasing an additional 183 shares during the last quarter. Private Advisor Group LLC increased its stake in nVent Electric by 3.2% in the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after purchasing an additional 191 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in nVent Electric by 16.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,736 shares of the company’s stock valued at $103,000 after purchasing an additional 247 shares during the last quarter. Finally, NorthRock Partners LLC increased its stake in nVent Electric by 7.0% in the fourth quarter. NorthRock Partners LLC now owns 4,157 shares of the company’s stock valued at $246,000 after purchasing an additional 271 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays upped their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Citigroup upped their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group upped their price target on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Royal Bank of Canada dropped their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $87.80.

nVent Electric Stock Performance

Shares of NYSE NVT traded up $0.94 during mid-day trading on Friday, hitting $63.72. The company had a trading volume of 1,677,437 shares, compared to its average volume of 1,505,156. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.52 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. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The firm’s 50 day simple moving average is $74.87 and its two-hundred day simple moving average is $72.88.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. During the same period in the prior year, the firm posted $0.77 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.50% of the company’s stock.

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.