Eventide Asset Management LLC Sells 3,713 Shares of nVent Electric plc (NYSE:NVT)

Eventide Asset Management LLC decreased its holdings in nVent Electric plc (NYSE:NVT) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 716,925 shares of the company’s stock after selling 3,713 shares during the period. Eventide Asset Management LLC’s holdings in nVent Electric were worth $50,371,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. UMB Bank n.a. lifted its position in shares of nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of nVent Electric in the third quarter worth about $29,000. ORG Partners LLC purchased a new stake in shares of nVent Electric in the second quarter worth about $31,000. Finally, First Foundation Advisors purchased a new stake in shares of nVent Electric in the second quarter worth about $34,000. Institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,382 shares of company stock valued at $7,365,956. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Down 1.9 %

Shares of NVT stock opened at $76.54 on Friday. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57. 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 stock’s 50 day simple moving average is $73.42 and its two-hundred day simple moving average is $73.22. The company has a market cap of $12.62 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 3.94 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.29%.

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.