nVent Electric plc (NYSE:NVT) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of nVent Electric plc (NYSE:NVT) by 33.7% in the third quarter, HoldingsChannel.com reports. The fund owned 3,240,194 shares of the company’s stock after selling 1,644,293 shares during the period. Massachusetts Financial Services Co. MA’s holdings in nVent Electric were worth $227,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC raised its position in shares of nVent Electric by 137.1% during the 3rd quarter. Intech Investment Management LLC now owns 51,904 shares of the company’s stock worth $3,647,000 after purchasing an additional 30,017 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of nVent Electric by 5.1% in the third quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock worth $432,000 after acquiring an additional 301 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of nVent Electric during the third quarter worth approximately $2,877,000. Commerce Bank raised its stake in nVent Electric by 1.5% in the 3rd quarter. Commerce Bank now owns 834,042 shares of the company’s stock valued at $58,600,000 after purchasing an additional 12,302 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in nVent Electric by 152.3% in the 3rd quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company’s stock valued at $114,000 after purchasing an additional 978 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Trading Up 0.5 %

Shares of NVT stock opened at $78.34 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The company’s 50-day moving average price is $72.62 and its 200-day moving average price is $73.31. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 4.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

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.