nVent Electric plc (NYSE:NVT) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in nVent Electric plc (NYSE:NVT) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,192 shares of the company’s stock after selling 4,680 shares during the quarter. Amalgamated Bank’s holdings in nVent Electric were worth $5,564,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Signaturefd LLC raised its holdings in nVent Electric by 22.0% during the second 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. EverSource Wealth Advisors LLC raised its holdings in shares of nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after acquiring an additional 272 shares during the last quarter. Anchor Investment Management LLC grew its position in shares of nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after purchasing an additional 280 shares during the period. Sciencast Management LP grew its position in shares of nVent Electric by 7.1% in the first quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock valued at $332,000 after purchasing an additional 293 shares during the period. Finally, Banque Cantonale Vaudoise grew its position in shares of nVent Electric by 87.2% in the second quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock valued at $49,000 after purchasing an additional 299 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Price Performance

NVT stock opened at $77.79 on Friday. The stock has a 50-day moving average price of $69.83 and a two-hundred day moving average price of $73.12. nVent Electric plc has a 12-month low of $49.90 and a 12-month high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market cap of $12.82 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, research analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

Insiders Place Their Bets

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Randolph A. Wacker sold 8,022 shares of the business’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 in the company, valued at approximately $1,972,088.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,323 shares of company stock worth $6,994,965 over the last quarter. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVT. Barclays lowered 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. Royal Bank of Canada lowered their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. Finally, KeyCorp boosted their price target 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, According to data from MarketBeat, nVent Electric has an average rating of “Buy” and an average 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.