Jacobs & Co. CA Reduces Stock Position in nVent Electric plc (NYSE:NVT)

Jacobs & Co. CA lessened its position in nVent Electric plc (NYSE:NVT) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,540 shares of the company’s stock after selling 700 shares during the period. Jacobs & Co. CA’s holdings in nVent Electric were worth $389,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC boosted its holdings in shares of nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after purchasing an additional 280 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in nVent Electric during the 2nd quarter valued at approximately $941,000. Sanctuary Advisors LLC purchased a new stake in nVent Electric in the 2nd quarter worth approximately $1,795,000. Dana Investment Advisors Inc. lifted its holdings in nVent Electric by 1.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 127,307 shares of the company’s stock worth $9,753,000 after buying an additional 2,250 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of nVent Electric by 15.0% in the 2nd quarter. Cetera Investment Advisers now owns 53,004 shares of the company’s stock worth $4,061,000 after buying an additional 6,901 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Activity

In related news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Herbert K. Parker purchased 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

NVT has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price 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 report on Wednesday, September 4th. Finally, Barclays cut their target price 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. 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 an average target price of $85.00.

nVent Electric Price Performance

Shares of NVT stock opened at $68.12 on Thursday. The business’s fifty day moving average is $66.39 and its 200 day moving average is $73.37. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.35 and a beta of 1.27. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last released its 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 business had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts expect that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s dividend payout ratio is 22.16%.

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.