Ceredex Value Advisors LLC Grows Stake in nVent Electric plc (NYSE:NVT)

Ceredex Value Advisors LLC lifted its stake in nVent Electric plc (NYSE:NVT) by 54.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 767,650 shares of the company’s stock after purchasing an additional 270,100 shares during the quarter. nVent Electric accounts for approximately 1.1% of Ceredex Value Advisors LLC’s holdings, making the stock its 27th biggest position. Ceredex Value Advisors LLC’s holdings in nVent Electric were worth $53,935,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVT. Van ECK Associates Corp increased its stake in nVent Electric by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 57,767 shares of the company’s stock valued at $4,356,000 after purchasing an additional 15,450 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of nVent Electric by 6.1% during the first quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock valued at $498,000 after buying an additional 382 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in nVent Electric in the 1st quarter worth approximately $464,000. BNP Paribas Financial Markets raised its holdings in nVent Electric by 3.2% in the 1st quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company’s stock worth $5,025,000 after acquiring an additional 2,064 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in nVent Electric by 92.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock valued at $1,423,000 after acquiring an additional 9,081 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 8.2 %

NVT stock opened at $68.44 on Friday. The business’s 50-day moving average is $69.47 and its two-hundred day moving average is $73.12. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.52 and a beta of 1.27. nVent Electric plc has a fifty-two week low of $49.05 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.22%.

Insiders Place Their Bets

In related news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of research analyst reports. KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays reduced their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average 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.