Citigroup Inc. Buys 1,959 Shares of nVent Electric plc (NYSE:NVT)

Citigroup Inc. lifted its holdings in nVent Electric plc (NYSE:NVT) by 3.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 62,044 shares of the company’s stock after purchasing an additional 1,959 shares during the quarter. Citigroup Inc.’s holdings in nVent Electric were worth $4,359,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Signaturefd LLC raised its holdings in nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after purchasing an additional 155 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after buying an additional 166 shares during the period. Huntington National Bank grew its position in shares of nVent Electric by 57.3% during the 3rd 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. Anchor Investment Management LLC grew its position in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares during the period. Finally, Banque Cantonale Vaudoise grew its position in shares of nVent Electric by 87.2% during the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after buying an additional 299 shares during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Performance

NVT opened at $78.18 on Wednesday. The firm has a market cap of $12.89 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 3.99 and a beta of 1.25. nVent Electric plc has a 52-week low of $53.49 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The business’s fifty day moving average is $73.89 and its 200-day moving average is $73.04.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million for 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 business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Sell-side analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 0.97%. nVent Electric’s dividend payout ratio is presently 22.29%.

Insider Buying and Selling at nVent Electric

In other nVent Electric 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 directly owns 45,040 shares in the company, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. 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 insiders.

Analysts Set New Price Targets

NVT has been the subject of several analyst reports. Royal Bank of Canada decreased their target price 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. Barclays decreased their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has an average 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.