B. Riley Wealth Advisors Inc. Sells 5,604 Shares of nVent Electric plc (NYSE:NVT)

B. Riley Wealth Advisors Inc. lowered its position in shares of nVent Electric plc (NYSE:NVT) by 45.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,811 shares of the company’s stock after selling 5,604 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in nVent Electric were worth $471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVT. Federated Hermes Inc. grew its position in shares of nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after purchasing an additional 25,482 shares in the last quarter. Geode Capital Management LLC grew its position in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares in the last quarter. Fifth Third Bancorp increased its stake in nVent Electric by 43.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,951 shares of the company’s stock worth $149,000 after acquiring an additional 591 shares during the last quarter. AQR Capital Management LLC increased its stake in nVent Electric by 101.2% in the 2nd quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock worth $27,484,000 after acquiring an additional 180,488 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of nVent Electric in the 2nd quarter valued at about $606,000. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Citigroup boosted their price target on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Trading Up 0.5 %

Shares of NVT opened at $69.61 on Friday. nVent Electric plc has a fifty-two week low of $55.19 and a fifty-two week high of $86.57. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 3.86 and a beta of 1.25. The firm has a 50 day moving average price of $74.97 and a 200-day moving average price of $72.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the prior year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.15%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

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.