nVent Electric plc (NYSE:NVT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in nVent Electric plc (NYSE:NVT) by 38.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,163 shares of the company’s stock after selling 14,502 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in nVent Electric were worth $1,627,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. ORG Partners LLC purchased a new position in shares of nVent Electric during the 2nd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of nVent Electric in the third quarter valued at about $29,000. UMB Bank n.a. increased its stake in shares of nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares in the last quarter. First Foundation Advisors acquired a new position in shares of nVent Electric during the 2nd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in nVent Electric in the 2nd quarter valued at about $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,824 shares of company stock worth $6,841,316 in the last 90 days. Insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

NYSE:NVT opened at $72.82 on Monday. The stock has a 50 day moving average price of $71.40 and a 200 day moving average price of $73.23. The stock has a market cap of $12.00 billion, a PE ratio of 21.35, a P/E/G ratio of 3.75 and a beta of 1.26. 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 plc has a one year low of $52.26 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. Equities research analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Analyst Ratings Changes

Several research firms have commented on NVT. 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 research note on Monday, November 4th. Barclays reduced their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $85.33.

nVent Electric Company 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.