Harbour Capital Advisors LLC Has $991,000 Holdings in nVent Electric plc (NYSE:NVT)

Harbour Capital Advisors LLC trimmed its stake in shares of nVent Electric plc (NYSE:NVT) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,025 shares of the company’s stock after selling 175 shares during the period. Harbour Capital Advisors LLC’s holdings in nVent Electric were worth $991,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Private Advisor Group LLC lifted its holdings in nVent Electric by 23.4% during the 2nd quarter. Private Advisor Group LLC now owns 8,140 shares of the company’s stock worth $624,000 after buying an additional 1,542 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of nVent Electric during the second quarter valued at $34,000. Choreo LLC bought a new position in nVent Electric in the second quarter valued at about $266,000. Daiwa Securities Group Inc. acquired a new stake in nVent Electric in the second quarter worth about $1,080,000. Finally, Headlands Technologies LLC bought a new stake in nVent Electric during the 2nd quarter worth about $179,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the transaction, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock worth $7,365,956 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the topic of several recent research reports. KeyCorp raised their target price on shares of 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 target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Barclays increased their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada lifted their price objective on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and an average target price of $86.17.

nVent Electric Trading Down 0.2 %

Shares of NVT traded down $0.11 during trading hours on Monday, reaching $68.75. The stock had a trading volume of 586,534 shares, compared to its average volume of 1,063,988. The company has a market cap of $11.33 billion, a P/E ratio of 20.16, a P/E/G ratio of 3.86 and a beta of 1.27. nVent Electric plc has a 52 week low of $55.19 and a 52 week high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average of $73.55 and a 200 day moving average of $71.37.

nVent Electric (NYSE:NVT) last announced its quarterly 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently declared 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 represents a $0.80 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio is 23.46%.

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.