Aptus Capital Advisors LLC Increases Stock Position in nVent Electric plc (NYSE:NVT)

Aptus Capital Advisors LLC grew its holdings in shares of nVent Electric plc (NYSE:NVT) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,432 shares of the company’s stock after buying an additional 7,882 shares during the quarter. Aptus Capital Advisors LLC’s holdings in nVent Electric were worth $4,316,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. raised its position in shares of nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after buying an additional 25,482 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of nVent Electric by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after buying an additional 8,489 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of nVent Electric by 18.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after buying an additional 46,748 shares in the last quarter. Cetera Investment Advisers raised its position in nVent Electric by 143.8% in the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in nVent Electric by 92.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock worth $1,423,000 after purchasing an additional 9,081 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Down 1.5 %

NYSE:NVT opened at $75.97 on Wednesday. nVent Electric plc has a 52 week low of $50.91 and a 52 week high of $86.57. The firm has a 50 day moving average of $70.42 and a 200 day moving average of $73.21. 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 stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 3.97 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. As a group, sell-side analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. nVent Electric’s dividend payout ratio is currently 22.29%.

Insiders Place Their Bets

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NVT shares. Royal Bank of Canada reduced their price objective 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. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, KeyCorp increased their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average price target of $85.33.

nVent Electric Profile

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.