Congress Asset Management Co. Has $114.13 Million Stock Position in nVent Electric plc (NYSE:NVT)

Congress Asset Management Co. lowered its stake in nVent Electric plc (NYSE:NVT) by 3.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,674,445 shares of the company’s stock after selling 67,511 shares during the period. Congress Asset Management Co.’s holdings in nVent Electric were worth $114,130,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB grew its stake in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of nVent Electric by 3.6% during the 3rd 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. Calamos Advisors LLC grew its position in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares in the last quarter. Larson Financial Group LLC grew its position in shares of nVent Electric by 91.9% during the 3rd 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. Finally, Huntington National Bank grew its position in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVT. Citigroup decreased their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays increased their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $86.33.

nVent Electric Stock Performance

NYSE NVT opened at $68.40 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 3.01 and a beta of 1.26. The firm’s 50 day simple moving average is $69.67 and its 200 day simple moving average is $70.15. nVent Electric plc has a 1 year low of $56.44 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, research analysts expect that nVent Electric plc will post 3.03 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a $0.20 dividend. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.80 annualized dividend and a yield of 1.17%. nVent Electric’s dividend payout ratio is presently 40.82%.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by insiders.

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.