Atria Investments Inc Sells 859 Shares of nVent Electric plc (NYSE:NVT)

Atria Investments Inc reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,688 shares of the company’s stock after selling 859 shares during the period. Atria Investments Inc’s holdings in nVent Electric were worth $3,370,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Clean Energy Transition LLP raised its holdings in nVent Electric by 1.6% during the fourth quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock valued at $150,121,000 after buying an additional 39,169 shares in the last quarter. Congress Asset Management Co. MA grew its position in shares of nVent Electric by 1.2% in the first quarter. Congress Asset Management Co. MA now owns 2,219,332 shares of the company’s stock valued at $167,338,000 after purchasing an additional 26,897 shares during the last quarter. Norges Bank acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $109,630,000. Fiduciary Management Inc. WI grew its position in shares of nVent Electric by 1.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,772,270 shares of the company’s stock valued at $104,723,000 after purchasing an additional 31,621 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of nVent Electric by 7.2% in the first quarter. Principal Financial Group Inc. now owns 1,691,987 shares of the company’s stock valued at $127,576,000 after purchasing an additional 113,300 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Barclays raised their price target on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Citigroup raised their price target on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, The Goldman Sachs Group raised their price target on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

nVent Electric Price Performance

NVT traded down $5.04 during midday trading on Friday, reaching $64.40. 3,202,400 shares of the company’s stock were exchanged, compared to its average volume of 1,655,233. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 1.52 and a beta of 1.31. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The business has a 50-day simple moving average of $76.97 and a two-hundred day simple moving average of $72.69.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. As a group, research analysts predict that nVent Electric plc will post 3.27 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Friday, July 19th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, July 19th. nVent Electric’s dividend payout ratio is 22.16%.

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.