nVent Electric plc (NYSE:NVT) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC decreased its holdings in nVent Electric plc (NYSE:NVT) by 53.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the company’s stock after selling 23,100 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in nVent Electric were worth $1,532,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of nVent Electric by 200.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 26,827 shares of the company’s stock worth $1,585,000 after buying an additional 17,910 shares during the period. Stifel Financial Corp raised its stake in nVent Electric by 3.8% during the 4th quarter. Stifel Financial Corp now owns 108,163 shares of the company’s stock valued at $6,391,000 after acquiring an additional 4,008 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in nVent Electric by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 72,959 shares of the company’s stock worth $4,311,000 after acquiring an additional 710 shares during the period. TFO Wealth Partners LLC grew its stake in shares of nVent Electric by 112,340.0% in the 4th quarter. TFO Wealth Partners LLC now owns 5,622 shares of the company’s stock valued at $332,000 after purchasing an additional 5,617 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of nVent Electric by 1.9% in the fourth quarter. Eagle Asset Management Inc. now owns 400,502 shares of the company’s stock valued at $23,666,000 after purchasing an additional 7,592 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Up 0.2 %

Shares of NVT stock opened at $70.92 on Friday. The business’s fifty day moving average price is $66.77 and its 200 day moving average price is $73.37. The firm has a market capitalization of $11.77 billion, a PE ratio of 20.68, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. nVent Electric plc has a 1-year low of $45.60 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NVT shares. Royal Bank of Canada decreased their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Wednesday, September 4th. Finally, Barclays lifted their target price on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $86.50.

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.