nVent Electric plc (NYSE:NVT) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP decreased its stake in nVent Electric plc (NYSE:NVT) by 43.3% in the 3rd quarter, Holdings Channel reports. The firm owned 13,725 shares of the company’s stock after selling 10,481 shares during the quarter. Qsemble Capital Management LP’s holdings in nVent Electric were worth $964,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after acquiring an additional 155 shares during the period. CIBC Asset Management Inc boosted its position in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after purchasing an additional 166 shares in the last quarter. Larson Financial Group LLC boosted its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Huntington National Bank grew its holdings in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after buying an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $78.01 on Wednesday. The business has a fifty day simple moving average of $73.11 and a 200-day simple moving average of $73.18. nVent Electric plc has a 52 week low of $52.26 and a 52 week high of $86.57. The company has a market cap of $12.86 billion, a P/E ratio of 22.88, a P/E/G ratio of 4.03 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

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

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.29%.

Insider Activity at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, 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. Over the last 90 days, insiders have sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVT shares. Royal Bank of Canada dropped their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, KeyCorp boosted their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $85.33.

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.