Stifel Financial Corp Sells 34,692 Shares of nVent Electric plc (NYSE:NVT)

Stifel Financial Corp decreased its holdings in nVent Electric plc (NYSE:NVT) by 30.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,081 shares of the company’s stock after selling 34,692 shares during the period. Stifel Financial Corp’s holdings in nVent Electric were worth $5,556,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. boosted its stake in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric in the 3rd quarter worth $29,000. ORG Partners LLC purchased a new stake in nVent Electric during the second quarter valued at $31,000. Finally, First Foundation Advisors bought a new position in nVent Electric in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NVT. Royal Bank of Canada cut their price target 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. KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Citigroup lifted their price target on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Barclays upped their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $85.50.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Down 0.7 %

Shares of NVT stock opened at $75.03 on Friday. The company has a market capitalization of $12.37 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 3.88 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company’s fifty day moving average price is $74.96 and its 200-day moving average price is $72.71. nVent Electric plc has a one year low of $55.19 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $937.37 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. nVent Electric’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is currently 22.29%.

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.