nVent Electric PLC $NVT Stock Position Boosted by Trillium Asset Management LLC

Trillium Asset Management LLC raised its position in nVent Electric PLC (NYSE:NVT) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,751 shares of the company’s stock after purchasing an additional 7,422 shares during the quarter. Trillium Asset Management LLC owned 0.08% of nVent Electric worth $21,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NVT. Sequoia Financial Advisors LLC lifted its stake in nVent Electric by 16.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,540 shares of the company’s stock valued at $12,982,000 after acquiring an additional 11,033 shares in the last quarter. State Street Corp boosted its position in nVent Electric by 4.9% during the 2nd quarter. State Street Corp now owns 5,313,122 shares of the company’s stock worth $901,159,000 after acquiring an additional 250,248 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in nVent Electric by 170.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 85,096 shares of the company’s stock worth $13,647,000 after acquiring an additional 53,582 shares during the last quarter. Engineers Gate Manager LP boosted its position in nVent Electric by 327.1% during the 2nd quarter. Engineers Gate Manager LP now owns 33,538 shares of the company’s stock worth $5,688,000 after acquiring an additional 25,686 shares during the last quarter. Finally, Alua Capital Management LP bought a new position in shares of nVent Electric during the 1st quarter worth approximately $27,394,000. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of nVent Electric from $200.00 to $208.00 and gave the company an “outperform” rating in a report on Wednesday, October 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 price objective on shares of nVent Electric in a research report on Saturday, August 1st. BMO Capital Markets initiated coverage on shares of nVent Electric in a report on Sunday, October 4th. They set an “outperform” rating and a $212.00 target price for the company. Zacks Research raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Finally, Seaport Research Partners reaffirmed a “neutral” rating and issued a $225.00 target price on shares of nVent Electric in a research report on Monday, October 12th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average target price of $197.12.

nVent Electric Stock Down 0.9%

NVT stock traded down $1.07 during mid-day trading on Friday, reaching $114.43. The company had a trading volume of 2,428,655 shares, compared to its average volume of 3,452,544. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.40 and a quick ratio of 1.93. The stock has a 50 day simple moving average of $145.44 and a two-hundred day simple moving average of $144.57. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 0.58 and a beta of 1.39. nVent Electric PLC has a 52 week low of $93.22 and a 52 week high of $184.64.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.12. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 43.7% on a year-over-year basis. As a group, equities analysts predict that nVent Electric PLC will post 5.36 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 6th. Shareholders of record on Friday, October 23rd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, October 23rd. nVent Electric’s dividend payout ratio is 20.24%.

Insider Transactions at nVent Electric

In other news, Director Herbert Parker bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was acquired at an average cost of $113.14 per share, for a total transaction of $339,420.00. Following the purchase, the director owned 19,853 shares of the company’s stock, valued at approximately $2,246,168.42. This trade represents a 17.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

About nVent Electric

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.