6,359 Shares in nVent Electric plc (NYSE:NVT) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in shares of nVent Electric plc (NYSE:NVT) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 6,359 shares of the company’s stock, valued at approximately $447,000.

Other institutional investors also recently bought and sold shares of the company. PDT Partners LLC grew its holdings in shares of nVent Electric by 17.2% during the third quarter. PDT Partners LLC now owns 78,508 shares of the company’s stock worth $5,516,000 after buying an additional 11,502 shares during the last quarter. Fiduciary Trust Co lifted its position in nVent Electric by 79.4% during the 3rd quarter. Fiduciary Trust Co now owns 8,296 shares of the company’s stock worth $583,000 after acquiring an additional 3,672 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in nVent Electric by 125.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 27,721 shares of the company’s stock worth $1,948,000 after acquiring an additional 15,438 shares during the period. Bridgewater Associates LP purchased a new position in shares of nVent Electric in the 3rd quarter valued at approximately $1,781,000. Finally, Thematics Asset Management increased its holdings in shares of nVent Electric by 11.6% in the third quarter. Thematics Asset Management now owns 864,708 shares of the company’s stock valued at $60,754,000 after purchasing an additional 90,000 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Down 1.9 %

Shares of NYSE NVT opened at $77.69 on Friday. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 4.02 and a beta of 1.25. nVent Electric plc has a 52 week low of $53.96 and a 52 week high of $86.57. The firm has a 50-day moving average price of $74.22 and a 200 day moving average price of $73.11. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS 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 firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period last year, the firm earned $0.84 EPS. nVent Electric’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. The trade was a 53.66 % 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 on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on NVT. Barclays lifted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada lowered their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, KeyCorp increased their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $85.67.

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.