nVent Electric plc (NYSE:NVT) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its position in shares of nVent Electric plc (NYSE:NVT) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,149 shares of the company’s stock after selling 271 shares during the quarter. D.A. Davidson & CO.’s holdings in nVent Electric were worth $1,850,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NVT. Swedbank AB acquired a new position in shares of nVent Electric during the third quarter valued at approximately $110,663,000. Franklin Resources Inc. increased its holdings in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Clean Energy Transition LLP increased its holdings in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after purchasing an additional 813,909 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of nVent Electric by 235.9% in the fourth quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock valued at $52,011,000 after purchasing an additional 535,881 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after purchasing an additional 466,042 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the subject of several recent research reports. Barclays increased their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup cut their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $86.33.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction on 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 approximately $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 is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

nVent Electric Trading Down 5.8 %

NVT opened at $62.64 on Friday. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The business has a fifty day simple moving average of $68.84 and a 200-day simple moving average of $70.12. The firm has a market cap of $10.34 billion, a P/E ratio of 31.96, a P/E/G ratio of 1.48 and a beta of 1.26. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.28%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.