Thrivent Financial for Lutherans Acquires 67,489 Shares of nVent Electric plc (NYSE:NVT)

Thrivent Financial for Lutherans raised its holdings in nVent Electric plc (NYSE:NVT) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 429,615 shares of the company’s stock after acquiring an additional 67,489 shares during the quarter. Thrivent Financial for Lutherans owned about 0.26% of nVent Electric worth $30,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVT. Swedbank AB bought a new position in nVent Electric in the third quarter valued at approximately $110,663,000. Millennium Management LLC boosted its stake in 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 acquiring an additional 828,425 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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 acquiring an additional 673,990 shares during the last quarter. HM Payson & Co. boosted its stake in nVent Electric by 109,496.5% in the third quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock valued at $30,801,000 after acquiring an additional 437,986 shares during the last quarter. Finally, DigitalBridge Group Inc. bought a new position in nVent Electric in the second quarter valued at approximately $21,291,000. 90.05% of the stock is owned by institutional investors.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value 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. The trade was a 23.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 89,824 shares of company stock worth $6,841,316. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NVT shares. KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays cut their target price 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. Finally, Royal Bank of Canada cut their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Trading Up 2.9 %

Shares of NYSE:NVT opened at $75.52 on Wednesday. nVent Electric plc has a 12 month low of $52.26 and a 12 month high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $71.63 and its 200 day simple moving average is $73.26. The firm has a market cap of $12.45 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. nVent Electric’s payout ratio is 22.29%.

nVent Electric Company 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.