Fractal Investments LLC Sells 5,436 Shares of nVent Electric plc (NYSE:NVT)

Fractal Investments LLC trimmed its position in shares of nVent Electric plc (NYSE:NVT) by 43.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,061 shares of the company’s stock after selling 5,436 shares during the quarter. Fractal Investments LLC’s holdings in nVent Electric were worth $496,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NVT. Impax Asset Management Group plc raised its position in nVent Electric by 27.1% in the 3rd quarter. Impax Asset Management Group plc now owns 22,601 shares of the company’s stock worth $1,588,000 after purchasing an additional 4,812 shares during the period. Van ECK Associates Corp grew its stake in shares of nVent Electric by 40.0% during the third quarter. Van ECK Associates Corp now owns 96,214 shares of the company’s stock valued at $7,026,000 after buying an additional 27,492 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of nVent Electric by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 24,807 shares of the company’s stock worth $1,743,000 after buying an additional 1,273 shares during the period. Ceredex Value Advisors LLC lifted its stake in shares of nVent Electric by 54.3% in the 3rd quarter. Ceredex Value Advisors LLC now owns 767,650 shares of the company’s stock valued at $53,935,000 after acquiring an additional 270,100 shares during the last quarter. Finally, HM Payson & Co. boosted its holdings in nVent Electric by 109,496.5% during the 3rd quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock valued at $30,801,000 after acquiring an additional 437,986 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVT shares. KeyCorp lifted 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 decreased 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 note on Monday. Finally, Barclays dropped their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Stock Performance

NYSE:NVT opened at $69.78 on Wednesday. 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’s fifty day simple moving average is $69.59 and its 200 day simple moving average is $73.09. The stock has a market cap of $11.60 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. nVent Electric plc has a twelve month low of $49.08 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. During the same period in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts predict that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. nVent Electric’s dividend payout ratio (DPR) 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.