Ariel Investments LLC Sells 407,906 Shares of nVent Electric plc (NYSE:NVT)

Ariel Investments LLC decreased its position in shares of nVent Electric plc (NYSE:NVT) by 29.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 992,935 shares of the company’s stock after selling 407,906 shares during the period. Ariel Investments LLC owned about 0.60% of nVent Electric worth $76,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of nVent Electric by 200.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 26,827 shares of the company’s stock valued at $1,585,000 after buying an additional 17,910 shares in the last quarter. United Services Automobile Association increased its position in nVent Electric by 17.1% during the 4th quarter. United Services Automobile Association now owns 13,112 shares of the company’s stock valued at $775,000 after buying an additional 1,911 shares in the last quarter. Stifel Financial Corp boosted its holdings in nVent Electric by 3.8% in the fourth quarter. Stifel Financial Corp now owns 108,163 shares of the company’s stock worth $6,391,000 after acquiring an additional 4,008 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of nVent Electric during the fourth quarter valued at $3,607,000. Finally, Treasurer of the State of North Carolina boosted its stake in nVent Electric by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 72,959 shares of the company’s stock worth $4,311,000 after purchasing an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NVT shares. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a report on Wednesday, September 4th. Royal Bank of Canada lowered their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric presently has a consensus rating of “Buy” and an average target price of $86.50.

nVent Electric Trading Up 0.2 %

Shares of nVent Electric stock opened at $69.66 on Thursday. The stock has a market capitalization of $11.58 billion, a PE ratio of 20.31, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The company’s fifty day simple moving average is $66.92 and its 200-day simple moving average is $73.37. nVent Electric plc has a 1-year low of $45.60 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. nVent Electric’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. As a group, equities analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.16%.

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.