Jacobs & Co. CA lessened its stake in shares of nVent Electric PLC (NYSE:NVT) by 9.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,627 shares of the company’s stock after selling 1,775 shares during the quarter. Jacobs & Co. CA’s holdings in nVent Electric were worth $388,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Personal Wealth Partners bought a new position in shares of nVent Electric during the 2nd quarter worth approximately $27,000. First Interstate Bank bought a new position in shares of nVent Electric during the 2nd quarter worth approximately $41,000. Stonebridge Capital Advisors LLC bought a new position in shares of nVent Electric during the 2nd quarter worth approximately $84,000. Point72 Asset Management L.P. acquired a new stake in nVent Electric during the 2nd quarter valued at $87,000. Finally, Captrust Financial Advisors increased its holdings in nVent Electric by 19.7% during the 2nd quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock valued at $128,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.
A number of equities research analysts recently weighed in on the company. KeyCorp dropped their price target on nVent Electric from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, October 7th. ValuEngine cut nVent Electric from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. G.Research cut nVent Electric from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Barclays reaffirmed a “hold” rating and set a $25.00 price target on shares of nVent Electric in a report on Sunday, August 4th. Finally, Rosenblatt Securities assumed coverage on nVent Electric in a report on Thursday. They set a “buy” rating and a $28.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $26.25.
Shares of NYSE NVT traded up $0.20 during midday trading on Friday, hitting $23.93. The stock had a trading volume of 1,014,271 shares, compared to its average volume of 1,231,647. The company’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $23.19. The firm has a market cap of $4.05 billion, a P/E ratio of 13.75 and a beta of 1.68. nVent Electric PLC has a fifty-two week low of $19.04 and a fifty-two week high of $28.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.84 and a quick ratio of 1.25.
nVent Electric (NYSE:NVT) last released its earnings results on Wednesday, October 30th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $559.80 million during the quarter, compared to analysts’ expectations of $554.44 million. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $0.46 EPS. Equities analysts expect that nVent Electric PLC will post 1.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.175 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $0.70 annualized dividend and a dividend yield of 2.93%. nVent Electric’s dividend payout ratio (DPR) is currently 40.23%.
nVent Electric Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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