Exchange Traded Concepts LLC Has $11.62 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

Exchange Traded Concepts LLC trimmed its holdings in nVent Electric plc (NYSE:NVT) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 170,434 shares of the company’s stock after selling 15,367 shares during the quarter. Exchange Traded Concepts LLC’s holdings in nVent Electric were worth $11,617,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. grew its holdings in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of nVent Electric in the third quarter valued at approximately $29,000. Huntington National Bank boosted its holdings in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the period. Finally, Anchor Investment Management LLC grew its stake in nVent Electric by 94.0% in the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Buying and Selling

In other 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 sale, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric 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 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 disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NVT shares. Barclays boosted their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. KeyCorp raised their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada upped their price target on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and an average target price of $86.17.

nVent Electric Trading Up 1.2 %

Shares of NVT opened at $76.17 on Friday. The stock’s 50-day moving average price is $73.06 and its 200 day moving average price is $71.16. 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 plc has a 12-month low of $56.44 and a 12-month high of $86.57. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 3.49 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts predict that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.05%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is presently 23.46%.

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.