Private Trust Co. NA Purchases 655 Shares of nVent Electric plc (NYSE:NVT)

Private Trust Co. NA raised its position in shares of nVent Electric plc (NYSE:NVT) by 6.0% during the 3rd quarter, Holdings Channel reports. The fund owned 11,504 shares of the company’s stock after purchasing an additional 655 shares during the period. Private Trust Co. NA’s holdings in nVent Electric were worth $808,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric in the third quarter worth about $29,000. ORG Partners LLC bought a new stake in nVent Electric during the second quarter worth approximately $31,000. Finally, First Foundation Advisors purchased a new stake in nVent Electric during the second quarter valued at approximately $34,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Down 0.4 %

NYSE:NVT opened at $78.01 on Wednesday. The firm has a 50-day simple moving average of $73.11 and a 200-day simple moving average of $73.18. nVent Electric plc has a one year low of $52.26 and a one year high of $86.57. The firm has a market cap of $12.86 billion, a P/E ratio of 22.88, a P/E/G ratio of 4.03 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 (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 business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. Equities analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

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

Insider Buying and Selling at nVent Electric

In other news, 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 transaction of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $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. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

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

nVent Electric 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.