Richardson Financial Services Inc. Sells 267 Shares of nVent Electric plc (NYSE:NVT)

Richardson Financial Services Inc. cut its holdings in nVent Electric plc (NYSE:NVT) by 23.4% during the 4th quarter, Holdings Channel reports. The fund owned 874 shares of the company’s stock after selling 267 shares during the period. Richardson Financial Services Inc.’s holdings in nVent Electric were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its position in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after buying an additional 166 shares during the period. Larson Financial Group LLC lifted its position in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Huntington National Bank grew its stake in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares during the period. Finally, Anchor Investment Management LLC raised its stake in nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction that occurred 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 directly owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry W. Burris sold 6,558 shares of the business’s 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 directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock valued at $7,365,956 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

nVent Electric Trading Down 1.4 %

Shares of nVent Electric stock opened at $65.16 on Monday. 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 firm has a market cap of $10.74 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.96 and a beta of 1.27. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The business has a 50-day moving average price of $71.97 and a 200-day moving average price of $70.63.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. Equities research analysts anticipate that nVent Electric plc will post 2.49 EPS for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is currently 23.46%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup dropped their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada increased their price target on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Barclays boosted 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. Finally, KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $86.17.

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.