Hilton Capital Management LLC Sells 1,784 Shares of nVent Electric plc (NYSE:NVT)

Hilton Capital Management LLC trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,094 shares of the company’s stock after selling 1,784 shares during the period. Hilton Capital Management LLC’s holdings in nVent Electric were worth $2,325,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. ORG Partners LLC acquired a new position in shares of nVent Electric during the 2nd quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in shares of nVent Electric during the 3rd quarter worth $29,000. UMB Bank n.a. grew its stake in shares of nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the last quarter. First Foundation Advisors bought a new stake in shares of nVent Electric during the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of nVent Electric in the second quarter worth $34,000. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays decreased their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada cut their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric presently has an average rating of “Buy” and an average target price of $85.33.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the business’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 completion of the sale, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction dated 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 in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,824 shares of company stock worth $6,841,316. Company insiders own 2.50% of the company’s stock.

nVent Electric Trading Up 2.9 %

NVT opened at $75.52 on Wednesday. nVent Electric plc has a 52 week low of $52.26 and a 52 week high of $86.57. The stock has a market cap of $12.45 billion, a PE ratio of 22.15, a PEG ratio of 3.75 and a beta of 1.26. 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 business has a 50 day moving average of $71.90 and a 200-day moving average of $73.25.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the company earned $0.84 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

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.