World Investment Advisors LLC Acquires New Shares in nVent Electric plc (NYSE:NVT)

World Investment Advisors LLC bought a new position in nVent Electric plc (NYSE:NVT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 4,475 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in shares of nVent Electric by 22.0% in the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after acquiring an additional 155 shares during the period. CIBC Asset Management Inc grew 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 purchasing an additional 166 shares during the last quarter. Larson Financial Group LLC increased its stake 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 valued at $27,000 after purchasing an additional 181 shares during the period. Huntington National Bank raised its holdings in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its position in shares of nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Insider Transactions at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

NYSE:NVT opened at $69.29 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $75.02 and its 200 day moving average price is $72.50. nVent Electric plc has a 52-week low of $55.19 and a 52-week high of $86.57. The firm has a market cap of $11.42 billion, a P/E ratio of 20.32, a PEG ratio of 3.86 and a beta of 1.25.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (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 during the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, January 17th. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio is 22.29%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVT. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup lifted their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 9th. 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 report on Monday, November 4th. Finally, KeyCorp boosted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $85.50.

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.