nVent Electric plc (NYSE:NVT) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC boosted its holdings in shares of nVent Electric plc (NYSE:NVT) by 7.6% in the 3rd quarter, Holdings Channel reports. The firm owned 6,399 shares of the company’s stock after buying an additional 453 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in nVent Electric were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVT. Signaturefd LLC lifted its position in nVent Electric by 22.0% in the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after buying an additional 155 shares in the last quarter. CIBC Asset Management Inc lifted its position in nVent Electric by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after buying an additional 166 shares in the last quarter. Huntington National Bank raised 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 valued at $43,000 after purchasing an additional 223 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after purchasing an additional 272 shares in the last quarter. Finally, Anchor Investment Management LLC raised its holdings in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after purchasing an additional 280 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $74.27 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The firm’s 50-day simple moving average is $71.90 and its 200-day simple moving average is $73.25. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The firm has a market cap of $12.24 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its 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). The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, research analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Wall Street Analyst Weigh In

NVT has been the topic of a number of recent research reports. Barclays cut their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. KeyCorp raised their price target on shares of 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 cut their price target 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has a consensus rating of “Buy” and a consensus price target of $85.33.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,824 shares of company stock worth $6,841,316 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

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.