nVent Electric plc (NYSE:NVT) Shares Bought by Custom Index Systems LLC

Custom Index Systems LLC lifted its holdings in shares of nVent Electric plc (NYSE:NVT) by 127.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,883 shares of the company’s stock after buying an additional 8,896 shares during the period. Custom Index Systems LLC’s holdings in nVent Electric were worth $1,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NVT. UMB Bank n.a. raised 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 valued at $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new stake in nVent Electric during the 3rd quarter worth $29,000. ORG Partners LLC acquired a new position in nVent Electric in the 2nd quarter worth $31,000. First Foundation Advisors acquired a new position in nVent Electric in the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in nVent Electric in the 2nd quarter valued at about $34,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVT shares. KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada dropped their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Barclays lowered their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has a consensus rating of “Buy” and an average price target of $85.67.

Insider Buying and Selling

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.50% of the stock is owned by corporate insiders.

nVent Electric Price Performance

Shares of NYSE:NVT traded down $0.80 during trading on Friday, reaching $73.34. The company had a trading volume of 1,155,170 shares, compared to its average volume of 1,525,423. The firm’s fifty day moving average is $68.73 and its 200 day moving average is $73.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The firm has a market capitalization of $12.18 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. On average, equities analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.04%. nVent Electric’s dividend payout ratio is currently 22.16%.

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.