Glenmede Trust Co. NA Sells 259 Shares of nVent Electric plc (NYSE:NVT)

Glenmede Trust Co. NA lowered its position in nVent Electric plc (NYSE:NVT) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 20,582 shares of the company’s stock after selling 259 shares during the period. Glenmede Trust Co. NA’s holdings in nVent Electric were worth $1,446,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after acquiring an additional 673,990 shares during the period. Principal Financial Group Inc. boosted its stake in nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after purchasing an additional 28,876 shares during the period. Swedbank AB purchased a new stake in nVent Electric during the 3rd quarter valued at approximately $110,663,000. Millennium Management LLC raised its position in shares of nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after buying an additional 828,425 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of nVent Electric by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock worth $72,752,000 after buying an additional 3,599 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of several research analyst reports. Barclays cut their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. 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 report on Monday, November 4th. Finally, KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Price Performance

NVT stock opened at $78.31 on Monday. nVent Electric plc has a 52 week low of $52.70 and a 52 week high of $86.57. The firm has a market capitalization of $12.91 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26. The company has a fifty day simple moving average of $73.57 and a two-hundred day simple moving average of $73.07. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last announced its quarterly 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). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. 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 previous year, the business posted $0.84 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Insider Activity

In related news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by insiders.

About nVent Electric

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.