Busey Bank Has $14.40 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

Busey Bank boosted its position in nVent Electric plc (NYSE:NVT) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 204,930 shares of the company’s stock after purchasing an additional 1,798 shares during the period. Busey Bank owned about 0.12% of nVent Electric worth $14,398,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB bought a new position in shares of nVent Electric during the 3rd quarter worth approximately $110,663,000. Millennium Management LLC increased its holdings in shares of nVent Electric by 159.9% in the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after purchasing an additional 828,425 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after purchasing an additional 673,990 shares during the period. Jennison Associates LLC acquired a new stake in shares of nVent Electric during the 1st quarter worth about $22,784,000. Finally, DigitalBridge Group Inc. bought a new stake in shares of nVent Electric during the 2nd quarter worth about $21,291,000. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays lowered their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada reduced their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $85.67.

Insider Transactions at nVent Electric

In related news, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Herbert K. Parker purchased 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

nVent Electric Trading Up 1.5 %

Shares of NVT stock opened at $74.14 on Friday. The stock has a market cap of $12.31 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $68.45 and a 200 day simple moving average of $73.18.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue was up 9.6% on a year-over-year basis. On average, research analysts predict that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.19 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

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.