Hilton Capital Management LLC Has $2.33 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

Hilton Capital Management LLC reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,094 shares of the company’s stock after selling 1,784 shares during the period. Hilton Capital Management LLC’s holdings in nVent Electric were worth $2,325,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Commerce Bank raised its stake in shares of nVent Electric by 1.5% during the 3rd quarter. Commerce Bank now owns 834,042 shares of the company’s stock worth $58,600,000 after purchasing an additional 12,302 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in shares of nVent Electric by 152.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company’s stock worth $114,000 after purchasing an additional 978 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of nVent Electric by 7.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 6,399 shares of the company’s stock valued at $450,000 after purchasing an additional 453 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in nVent Electric in the third quarter worth $768,000. Finally, Thrivent Financial for Lutherans increased its position in nVent Electric by 18.6% during the third quarter. Thrivent Financial for Lutherans now owns 429,615 shares of the company’s stock worth $30,185,000 after buying an additional 67,489 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NYSE NVT opened at $75.52 on Wednesday. The company’s fifty day moving average is $71.90 and its two-hundred day moving average is $73.25. nVent Electric plc has a 52-week low of $52.26 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. Equities research analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

Insider Activity

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, 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. In the last three months, insiders have sold 89,824 shares of company stock worth $6,841,316. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of a number of analyst reports. KeyCorp increased their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays decreased their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered 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 note on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $85.33.

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.