Portside Wealth Group LLC Sells 1,704 Shares of nVent Electric plc (NYSE:NVT)

Portside Wealth Group LLC decreased its position in shares of nVent Electric plc (NYSE:NVT) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,955 shares of the company’s stock after selling 1,704 shares during the quarter. Portside Wealth Group LLC’s holdings in nVent Electric were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after purchasing an additional 25,482 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock worth $14,344,000 after acquiring an additional 8,489 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in nVent Electric by 18.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after acquiring an additional 46,748 shares during the period. SG Americas Securities LLC increased its holdings in shares of nVent Electric by 250.4% in the first quarter. SG Americas Securities LLC now owns 62,384 shares of the company’s stock worth $4,704,000 after acquiring an additional 44,582 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of nVent Electric by 143.8% during the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In related news, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,251,978.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the 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 completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 19,766 shares in the company, valued at $1,251,978.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,323 shares of company stock worth $6,994,965 in the last three months. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

NVT has been the subject of several research analyst reports. KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays cut their price target on shares of 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, Royal Bank of Canada lowered their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $85.33.

nVent Electric Trading Down 1.1 %

NYSE NVT opened at $76.95 on Friday. nVent Electric plc has a 52 week low of $49.93 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The stock’s 50 day moving average price is $70.23 and its two-hundred day moving average price is $73.19. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 3.97 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the business earned $0.84 earnings per share. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio is 22.29%.

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.