B. Riley Wealth Advisors Inc. Reduces Stock Holdings in nVent Electric plc (NYSE:NVT)

B. Riley Wealth Advisors Inc. reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 45.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,811 shares of the company’s stock after selling 5,604 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in nVent Electric were worth $471,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. Tidal Investments LLC boosted its position in nVent Electric by 42.0% during the 3rd quarter. Tidal Investments LLC now owns 46,016 shares of the company’s stock valued at $3,233,000 after acquiring an additional 13,621 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of nVent Electric during the 3rd quarter worth approximately $124,000. World Investment Advisors LLC bought a new position in shares of nVent Electric in the 3rd quarter worth approximately $314,000. Finally, TT International Asset Management LTD lifted its stake in shares of nVent Electric by 550.2% in the 3rd quarter. TT International Asset Management LTD now owns 90,019 shares of the company’s stock valued at $6,324,000 after purchasing an additional 76,175 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Citigroup lifted their price target 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. Finally, Barclays raised their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $85.50.

Insider Transactions at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock worth $7,365,956 in the last ninety days. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Up 0.5 %

NYSE:NVT opened at $69.61 on Friday. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 3.86 and a beta of 1.25. 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 company’s 50 day moving average price is $74.97 and its 200-day moving average price is $72.48. nVent Electric plc has a 52 week low of $55.19 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT) last issued 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 net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the prior year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Friday, January 17th will be given a dividend of $0.20 per share. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.15%. nVent Electric’s dividend payout ratio is 22.29%.

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.