MML Investors Services LLC Reduces Stock Position in nVent Electric plc (NYSE:NVT)

MML Investors Services LLC lessened its holdings in shares of nVent Electric plc (NYSE:NVT) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,437 shares of the company’s stock after selling 666 shares during the period. MML Investors Services LLC’s holdings in nVent Electric were worth $874,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC lifted its position in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. lifted its holdings in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric in the 3rd quarter valued at approximately $29,000. First Foundation Advisors bought a new position in nVent Electric in the second quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in nVent Electric during the second quarter valued at $34,000. Institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm’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 directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock worth $7,365,956 over the last quarter. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE NVT opened at $69.55 on Friday. The company has a 50 day moving average of $74.91 and a 200 day moving average of $72.41. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a twelve month low of $55.19 and a twelve month high of $86.57. The firm has a market cap of $11.46 billion, a P/E ratio of 20.40, a PEG ratio of 3.86 and a beta of 1.25.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period last year, the business earned $0.84 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s payout ratio is presently 23.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVT shares. Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Citigroup raised their price objective on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada dropped their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus price target of $85.50.

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.