Connor Clark & Lunn Investment Management Ltd. Buys Shares of 40,954 nVent Electric plc (NYSE:NVT)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in nVent Electric plc (NYSE:NVT) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 40,954 shares of the company’s stock, valued at approximately $2,877,000.

A number of other large investors have also bought and sold shares of the business. Federated Hermes Inc. raised its holdings in shares of nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after buying an additional 46,748 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of nVent Electric by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in nVent Electric in the second quarter valued at approximately $1,608,000. Finally, Virtu Financial LLC acquired a new stake in shares of nVent Electric in the first quarter valued at approximately $1,125,000. 90.05% of the stock is owned by institutional investors.

Insider Buying and Selling at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the 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 sale, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,824 shares of company stock worth $6,841,316. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NVT shares. Barclays dropped their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada reduced their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Stock Performance

NVT opened at $78.34 on Monday. The business’s fifty day moving average is $72.62 and its 200-day moving average is $73.23. The firm has a market cap of $12.91 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 4.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 52-week low of $52.26 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The business 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%. nVent Electric’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.84 EPS. Sell-side analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

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.