Palisade Asset Management LLC Sells 100,000 Shares of nVent Electric plc (NYSE:NVT)

Palisade Asset Management LLC lessened its position in nVent Electric plc (NYSE:NVT) by 94.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,035 shares of the company’s stock after selling 100,000 shares during the period. Palisade Asset Management LLC’s holdings in nVent Electric were worth $424,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blair William & Co. IL bought a new position in nVent Electric in the 1st quarter valued at approximately $229,000. 1832 Asset Management L.P. lifted its holdings in shares of nVent Electric by 4,741.9% during the first quarter. 1832 Asset Management L.P. now owns 164,623 shares of the company’s stock valued at $12,413,000 after purchasing an additional 161,223 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of nVent Electric during the first quarter valued at $51,000. Price T Rowe Associates Inc. MD boosted its position in shares of nVent Electric by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,384 shares of the company’s stock valued at $7,569,000 after buying an additional 5,305 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in nVent Electric by 18.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 15,018 shares of the company’s stock worth $1,132,000 after buying an additional 2,302 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Up 0.5 %

Shares of NVT stock opened at $78.34 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 12 month low of $52.26 and a 12 month high of $86.57. The stock has a market cap of $12.91 billion, a P/E ratio of 22.97, a P/E/G ratio of 4.01 and a beta of 1.26. The company has a 50 day simple moving average of $72.62 and a two-hundred day simple moving average of $73.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. On average, research analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Buying and Selling

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,824 shares of company stock valued at $6,841,316. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays dropped 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 target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus price target of $85.33.

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.