nVent Electric plc (NYSE:NVT) Position Cut by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC cut its position in nVent Electric plc (NYSE:NVT) by 17.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,520 shares of the company’s stock after selling 12,732 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in nVent Electric were worth $4,193,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after buying an additional 25,482 shares during the period. Geode Capital Management LLC boosted its position in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. AQR Capital Management LLC grew its stake in shares of nVent Electric by 101.2% in the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock worth $27,484,000 after purchasing an additional 180,488 shares in the last quarter. MQS Management LLC bought a new position in shares of nVent Electric in the second quarter worth $606,000. Finally, Seven Eight Capital LP acquired a new position in shares of nVent Electric during the second quarter valued at $1,119,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays increased their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. 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 report on Monday, October 14th. Royal Bank of Canada boosted their target price on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Citigroup upped their target price on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $86.33.

Insider Buying and Selling

In related news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction that occurred 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 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is owned by corporate insiders.

nVent Electric Price Performance

Shares of NYSE NVT traded up $0.83 during midday trading on Monday, reaching $71.48. The company’s stock had a trading volume of 1,052,395 shares, compared to its average volume of 962,452. nVent Electric plc has a one year low of $55.19 and a one year high of $86.57. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27. The company has a 50 day moving average price of $73.88 and a 200 day moving average price of $71.64. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. On average, equities research analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The business 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 is a positive change 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 dividend yield of 1.12%. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

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.