Hancock Whitney Corp Sells 311 Shares of nVent Electric plc (NYSE:NVT)

Hancock Whitney Corp trimmed its position in nVent Electric plc (NYSE:NVT) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,825 shares of the company’s stock after selling 311 shares during the period. Hancock Whitney Corp’s holdings in nVent Electric were worth $1,042,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NVT. Swedbank AB bought a new position in shares of nVent Electric in the third quarter worth approximately $110,663,000. Millennium Management LLC increased its holdings in shares of nVent Electric by 159.9% in the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after buying an additional 828,425 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after buying an additional 673,990 shares in the last quarter. HM Payson & Co. lifted its holdings in shares of nVent Electric by 109,496.5% during the 3rd quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock worth $30,801,000 after acquiring an additional 437,986 shares during the last quarter. Finally, DigitalBridge Group Inc. purchased a new position in nVent Electric in the second quarter worth $21,291,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $78.01 on Wednesday. nVent Electric plc has a 12 month low of $52.26 and a 12 month high of $86.57. The firm has a market capitalization 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 current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $73.11 and a two-hundred day simple moving average of $73.18.

nVent Electric (NYSE:NVT) last issued 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 business had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.84 earnings per share. On average, equities analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 22.29%.

Insiders Place Their Bets

In related news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the 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 sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at $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. Over the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NVT shares. Royal Bank of Canada lowered their price target on 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 target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $85.33.

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.