Waddell & Associates LLC Takes $272,000 Position in nVent Electric plc (NYSE:NVT)

Waddell & Associates LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,867 shares of the company’s stock, valued at approximately $272,000.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. grew its holdings in nVent Electric by 6.6% during the 2nd 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% in the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after purchasing an additional 46,748 shares in the last quarter. Cetera Investment Advisers lifted its stake in nVent Electric by 143.8% in the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock valued at $3,476,000 after buying an additional 27,196 shares during the period. Gateway Investment Advisers LLC acquired a new position 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 during the 1st quarter worth approximately $1,125,000. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value 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. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,824 shares of company stock worth $6,841,316. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Stock Up 0.5 %

Shares of NYSE NVT opened at $78.34 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company has a 50-day moving average price of $72.62 and a 200-day moving average price of $73.31. The stock has a market capitalization of $12.91 billion, a P/E ratio of 22.97, a P/E/G ratio of 4.01 and a beta of 1.26. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million for 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%. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. On average, equities research analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Royal Bank of Canada dropped 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 report on Monday, November 4th. Barclays cut their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $85.33.

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.