Hancock Whitney Corp Sells 311 Shares of nVent Electric plc (NYSE:NVT)

Hancock Whitney Corp cut its stake in shares of nVent Electric plc (NYSE:NVT) by 2.1% in the third quarter, HoldingsChannel reports. The fund owned 14,825 shares of the company’s stock after selling 311 shares during the period. Hancock Whitney Corp’s holdings in nVent Electric were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVT. Swedbank AB bought a new position in nVent Electric in the 3rd quarter worth $110,663,000. Millennium Management LLC boosted its stake 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 worth $103,161,000 after acquiring an additional 828,425 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares in the last quarter. HM Payson & Co. raised its stake in nVent Electric by 109,496.5% during the 3rd quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock valued at $30,801,000 after purchasing an additional 437,986 shares during the period. Finally, DigitalBridge Group Inc. bought a new position in nVent Electric in the 2nd quarter worth approximately $21,291,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction on 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 owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,382 shares of company stock worth $7,365,956. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

NVT has been the topic of several research analyst reports. Royal Bank of Canada lowered 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. KeyCorp boosted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays cut their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.33.

nVent Electric Trading Down 0.4 %

Shares of NYSE NVT opened at $78.01 on Wednesday. nVent Electric plc has a 1-year low of $52.26 and a 1-year high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The business’s 50 day moving average is $73.11 and its two-hundred day moving average is $73.18. The stock has a market capitalization of $12.86 billion, a P/E ratio of 22.88, a PEG ratio of 4.03 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its 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 company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period in the prior year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid 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 0.97%. nVent Electric’s dividend payout ratio is presently 22.29%.

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.