nVent Electric plc (NYSE:NVT) Stock Position Raised by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of nVent Electric plc (NYSE:NVT) by 22.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,020,425 shares of the company’s stock after buying an additional 1,269,335 shares during the quarter. Franklin Resources Inc.’s holdings in nVent Electric were worth $527,374,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. UMB Bank n.a. boosted its position in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares during the period. ORG Wealth Partners LLC acquired a new stake in nVent Electric during the 3rd quarter worth about $29,000. ORG Partners LLC purchased a new position in nVent Electric during the 2nd quarter valued at about $31,000. Finally, First Foundation Advisors acquired a new position in shares of nVent Electric in the 2nd quarter valued at about $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of NVT opened at $74.97 on Friday. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 3.88 and a beta of 1.25. The company’s fifty day moving average is $74.96 and its 200-day moving average is $72.78. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 12 month low of $55.19 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 EPS 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 for the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal 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 $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada lowered 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. Barclays increased their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $85.50.

Insider Buying and Selling

In other news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents 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 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by insiders.

nVent Electric Profile

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.