nVent Electric plc (NYSE:NVT) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP raised its position in shares of nVent Electric plc (NYSE:NVT) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,947 shares of the company’s stock after buying an additional 1,861 shares during the quarter. Quantbot Technologies LP’s holdings in nVent Electric were worth $2,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. UMB Bank n.a. lifted its position in shares of nVent Electric by 280.0% during the 3rd 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 period. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric in the 3rd quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of nVent Electric during the second quarter worth approximately $31,000. Finally, First Foundation Advisors bought a new position in nVent Electric in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 1.9 %

NVT opened at $76.53 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 1-year low of $52.26 and a 1-year high of $86.57. The company has a fifty day moving average price of $73.30 and a two-hundred day moving average price of $73.20. The company has a market cap of $12.61 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26.

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 company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter last year, the company posted $0.84 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio is presently 22.29%.

Insiders Place Their Bets

In other news, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.