UMB Bank n.a. Buys 308 Shares of nVent Electric plc (NYSE:NVT)

UMB Bank n.a. boosted its stake in shares of nVent Electric plc (NYSE:NVT) by 280.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 418 shares of the company’s stock after purchasing an additional 308 shares during the period. UMB Bank n.a.’s holdings in nVent Electric were worth $29,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of nVent Electric in the first quarter valued at $26,000. ORG Partners LLC bought a new position in shares of nVent Electric in the 2nd quarter valued at about $31,000. Rise Advisors LLC acquired a new position in shares of nVent Electric during the 1st quarter worth about $32,000. First Foundation Advisors bought a new stake in shares of nVent Electric in the 2nd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in nVent Electric in the 2nd quarter valued at about $34,000. 90.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herbert K. Parker bought 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Trading Down 2.3 %

Shares of nVent Electric stock opened at $73.37 on Wednesday. nVent Electric plc has a 52-week low of $45.60 and a 52-week high of $86.57. The stock has a market cap of $12.18 billion, a PE ratio of 21.39, a PEG ratio of 1.47 and a beta of 1.27. The firm has a 50-day moving average of $67.07 and a 200-day moving average of $73.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

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

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.04%. nVent Electric’s dividend payout ratio is 22.16%.

Wall Street Analyst Weigh In

NVT has been the subject of a number of recent analyst reports. KeyCorp raised 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. Barclays reduced their price objective on shares of 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, Royal Bank of Canada dropped their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $85.67.

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.