nVent Electric PLC (NYSE:NVT) Shares Sold by Outfitter Financial LLC

Outfitter Financial LLC lessened its position in nVent Electric PLC (NYSE:NVT) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,904 shares of the company’s stock after selling 4,310 shares during the period. nVent Electric makes up 1.7% of Outfitter Financial LLC’s portfolio, making the stock its 21st biggest position. Outfitter Financial LLC’s holdings in nVent Electric were worth $1,935,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Capital Research Global Investors bought a new position in nVent Electric in the 4th quarter valued at about $384,749,000. Norges Bank bought a new position in shares of nVent Electric during the 4th quarter valued at about $197,434,000. Millennium Management LLC boosted its position in shares of nVent Electric by 743.7% during the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock valued at $151,017,000 after purchasing an additional 1,953,026 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of nVent Electric by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,747,395 shares of the company’s stock valued at $91,598,000 after purchasing an additional 29,027 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock valued at $117,499,000 after purchasing an additional 224,657 shares in 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 research reports. KeyCorp raised their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday. Barclays raised their price objective on shares of nVent Electric from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 9th. Royal Bank Of Canada raised their target price on shares of nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Finally, Citigroup raised their target price on shares of nVent Electric from $69.00 to $86.00 and gave the stock a “buy” rating in a report on Monday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $80.33.

nVent Electric Stock Down 1.1%

Shares of NYSE NVT traded down $0.82 during mid-day trading on Friday, reaching $76.21. The company had a trading volume of 90,559 shares, compared to its average volume of 1,981,895. The stock has a fifty day moving average of $69.74 and a two-hundred day moving average of $63.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric PLC has a 12-month low of $41.71 and a 12-month high of $81.20.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, equities research analysts expect that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric’s dividend payout ratio (DPR) is 22.86%.

Insiders Place Their Bets

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president owned 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.