Hudson Value Partners LLC Reduces Stock Holdings in nVent Electric plc (NYSE:NVT)

Hudson Value Partners LLC lowered its holdings in nVent Electric plc (NYSE:NVT) by 6.0% during the third quarter, Holdings Channel reports. The fund owned 13,175 shares of the company’s stock after selling 835 shares during the quarter. Hudson Value Partners LLC’s holdings in nVent Electric were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in shares of nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after buying an additional 28,876 shares during the last quarter. Marks Group Wealth Management Inc acquired a new position in nVent Electric in the third quarter valued at approximately $9,473,000. Impax Asset Management Group plc boosted its position in nVent Electric by 27.1% in the 3rd quarter. Impax Asset Management Group plc now owns 22,601 shares of the company’s stock worth $1,588,000 after purchasing an additional 4,812 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of nVent Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 96,214 shares of the company’s stock worth $7,026,000 after purchasing an additional 27,492 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of nVent Electric by 5.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,807 shares of the company’s stock valued at $1,743,000 after purchasing an additional 1,273 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

NYSE NVT opened at $77.79 on Friday. nVent Electric plc has a fifty-two week low of $49.90 and a fifty-two week high of $86.57. The firm has a market capitalization of $12.82 billion, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 1.83 and a beta of 1.26. The stock’s fifty day moving average is $69.83 and its two-hundred day moving average is $73.12. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

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

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Transactions at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Michael B. Faulconer sold 20,004 shares of the firm’s 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 completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. 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 available at the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric 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 sale, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,323 shares of company stock worth $6,994,965. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays lowered their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company 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.