Vaughan Nelson Investment Management L.P. Trims Position in nVent Electric PLC $NVT

Vaughan Nelson Investment Management L.P. lowered its position in shares of nVent Electric PLC (NYSE:NVT) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,420 shares of the company’s stock after selling 12,090 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in nVent Electric were worth $2,592,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of NVT. AQR Capital Management LLC boosted its holdings in shares of nVent Electric by 33.1% during the first quarter. AQR Capital Management LLC now owns 94,968 shares of the company’s stock worth $4,841,000 after purchasing an additional 23,606 shares during the last quarter. Jones Financial Companies Lllp increased its stake in nVent Electric by 575.6% in the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company’s stock valued at $461,000 after purchasing an additional 7,500 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in nVent Electric by 436.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company’s stock worth $56,000 after buying an additional 872 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in nVent Electric by 48.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,443 shares of the company’s stock worth $106,000 after buying an additional 470 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in nVent Electric by 12.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 189,480 shares of the company’s stock worth $13,880,000 after buying an additional 20,917 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on NVT shares. Citigroup lifted their price target on nVent Electric from $131.00 to $133.00 and gave the company a “buy” rating in a report on Monday, February 9th. Wall Street Zen cut shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Wolfe Research upgraded shares of nVent Electric to an “outperform” rating in a report on Monday, February 9th. Weiss Ratings raised shares of nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Finally, KeyCorp increased their price target on shares of nVent Electric from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.50.

nVent Electric Stock Performance

NYSE NVT opened at $118.06 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $129.94. The firm has a market capitalization of $19.09 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.17 and a beta of 1.31. The business’s 50-day simple moving average is $115.04 and its 200-day simple moving average is $107.60.

nVent Electric (NYSE:NVT) last posted its earnings results on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The company’s revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Equities analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, April 24th. nVent Electric’s dividend payout ratio (DPR) is currently 19.53%.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 5,244 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $112.27, for a total transaction of $588,743.88. Following the completion of the sale, the director directly owned 46,371 shares of the company’s stock, valued at approximately $5,206,072.17. This represents a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan M. Cameron sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the transaction, the director directly owned 13,405 shares in the company, valued at $1,535,140.60. This trade represents a 27.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 17,841 shares of company stock worth $2,046,166. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.