Trium Capital LLP Sells 1,914 Shares of nVent Electric plc (NYSE:NVT)

Trium Capital LLP cut its stake in nVent Electric plc (NYSE:NVT) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,688 shares of the company’s stock after selling 1,914 shares during the period. nVent Electric makes up approximately 0.2% of Trium Capital LLP’s holdings, making the stock its 20th biggest position. Trium Capital LLP’s holdings in nVent Electric were worth $1,069,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVT. Franklin Resources Inc. lifted its stake in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. State Street Corp raised its holdings in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Janus Henderson Group PLC lifted its position in shares of nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after acquiring an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP grew its holdings in shares of nVent Electric by 56.5% during the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last three months. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVT. KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Citigroup dropped their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada raised their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $86.17.

nVent Electric Stock Performance

nVent Electric stock opened at $72.36 on Friday. nVent Electric plc has a 52-week low of $55.62 and a 52-week 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 stock has a fifty day moving average price of $73.20 and a two-hundred day moving average price of $71.25. The firm has a market capitalization of $11.93 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.95 and a beta of 1.27.

nVent Electric (NYSE:NVT) last announced 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 firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. As a group, analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.20 dividend. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, January 17th. nVent Electric’s payout ratio is presently 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.