Private Trust Co. NA Acquires 655 Shares of nVent Electric plc (NYSE:NVT)

Private Trust Co. NA grew its stake in shares of nVent Electric plc (NYSE:NVT) by 6.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,504 shares of the company’s stock after buying an additional 655 shares during the quarter. Private Trust Co. NA’s holdings in nVent Electric were worth $808,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Federated Hermes Inc. lifted its position in nVent Electric by 6.6% in the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after purchasing an additional 25,482 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in nVent Electric by 18.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after buying an additional 46,748 shares during the last quarter. Cetera Investment Advisers boosted its position in nVent Electric by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock valued at $3,476,000 after buying an additional 27,196 shares during the period. Gateway Investment Advisers LLC bought a new stake in nVent Electric in the 2nd quarter worth $1,608,000. Finally, Virtu Financial LLC purchased a new position in shares of nVent Electric in the first quarter valued at about $1,125,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 0.4 %

NYSE:NVT opened at $78.01 on Wednesday. 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 has a market cap of $12.86 billion, a P/E ratio of 22.88, a P/E/G ratio of 4.03 and a beta of 1.26. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57. The firm has a 50-day simple moving average of $73.11 and a two-hundred day simple moving average of $73.18.

nVent Electric (NYSE:NVT) last posted its quarterly 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced 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 was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 0.97%. nVent Electric’s payout ratio is 22.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Barclays cut their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, KeyCorp lifted 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus price target of $85.33.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 in the last three months. 2.50% of the stock is currently owned by company insiders.

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.