Pathstone Holdings LLC Trims Holdings in nVent Electric plc (NYSE:NVT)

Pathstone Holdings LLC reduced its position in shares of nVent Electric plc (NYSE:NVT) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,306 shares of the company’s stock after selling 863 shares during the period. Pathstone Holdings LLC’s holdings in nVent Electric were worth $1,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Thrivent Financial for Lutherans boosted 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 acquiring an additional 67,489 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of nVent Electric by 32.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 684,732 shares of the company’s stock valued at $48,110,000 after purchasing an additional 167,632 shares during the period. CIBC Asset Management Inc increased its stake in nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares during the last quarter. Impax Asset Management Group plc lifted its position in nVent Electric by 27.1% during the third quarter. Impax Asset Management Group plc now owns 22,601 shares of the company’s stock worth $1,588,000 after buying an additional 4,812 shares during the period. Finally, Huntington National Bank lifted its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVT has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. KeyCorp upped their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays cut their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and a consensus price target of $85.33.

nVent Electric Trading Down 1.9 %

NYSE NVT opened at $76.53 on Thursday. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 4.03 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. The company’s 50 day moving average price is $73.30 and its 200 day moving average price is $73.20.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. On average, sell-side analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced 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 was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Activity

In related news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by company insiders.

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.