Jacobs & Co. CA lowered its stake in nVent Electric PLC (NYSE:NVT) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,627 shares of the company’s stock after selling 1,775 shares during the quarter. Jacobs & Co. CA’s holdings in nVent Electric were worth $388,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Personal Wealth Partners acquired a new position in nVent Electric during the second quarter worth approximately $27,000. First Interstate Bank acquired a new position in nVent Electric during the second quarter worth approximately $41,000. Stonebridge Capital Advisors LLC acquired a new position in nVent Electric during the second quarter worth approximately $84,000. Point72 Asset Management L.P. acquired a new position in nVent Electric during the second quarter worth approximately $87,000. Finally, Captrust Financial Advisors increased its position in nVent Electric by 19.7% during the second quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock worth $128,000 after buying an additional 853 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Randall J. Hogan sold 204,605 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $23.97, for a total value of $4,904,381.85. 1.60% of the stock is currently owned by corporate insiders.
Shares of nVent Electric stock traded up $0.20 on Friday, hitting $23.93. The stock had a trading volume of 1,014,271 shares, compared to its average volume of 1,231,647. nVent Electric PLC has a twelve month low of $19.04 and a twelve month high of $28.49. The business’s 50 day moving average is $21.51 and its two-hundred day moving average is $23.19. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.44. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 13.75 and a beta of 1.68.
nVent Electric (NYSE:NVT) last posted its earnings results on Wednesday, October 30th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The company had revenue of $559.80 million for the quarter, compared to the consensus estimate of $554.44 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts predict that nVent Electric PLC will post 1.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, October 17th. nVent Electric’s payout ratio is 40.23%.
NVT has been the topic of a number of recent analyst reports. Buckingham Research lowered their price target on nVent Electric from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. KeyCorp lowered their price target on nVent Electric from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Rosenblatt Securities initiated coverage on nVent Electric in a research report on Thursday. They set a “buy” rating and a $28.00 price target on the stock. Gabelli downgraded nVent Electric from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Friday, November 1st. Finally, Royal Bank of Canada downgraded nVent Electric from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $30.00 to $24.00 in a research report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.25.
nVent Electric Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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