Custom Index Systems LLC Cuts Holdings in nVent Electric plc (NYSE:NVT)

Custom Index Systems LLC lowered its stake in shares of nVent Electric plc (NYSE:NVT) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,281 shares of the company’s stock after selling 2,602 shares during the quarter. Custom Index Systems LLC’s holdings in nVent Electric were worth $905,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB purchased a new stake in nVent Electric during the third quarter valued at about $110,663,000. Franklin Resources Inc. increased its position in shares of nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Clean Energy Transition LLP raised 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 valued at $158,411,000 after buying an additional 813,909 shares in the last quarter. Artemis Investment Management LLP lifted its position in nVent Electric by 235.9% in the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock worth $52,011,000 after buying an additional 535,881 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after buying an additional 466,042 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVT has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada upped their price target on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup decreased their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the company 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.com, the stock has a consensus rating of “Buy” and an average target price of $86.17.

Insider Activity

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric 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. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $65.16 on Friday. The company’s fifty day simple moving average is $72.23 and its two-hundred day simple moving average is $70.80. nVent Electric plc has a 12-month low of $56.44 and a 12-month high of $86.57. The firm has a market cap of $10.74 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.27. 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 posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. As a group, equities analysts expect that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.20 dividend. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is currently 23.46%.

nVent Electric Company 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.