Wellington Management Group LLP Decreases Stock Position in nVent Electric plc (NYSE:NVT)

Wellington Management Group LLP lessened its stake in shares of nVent Electric plc (NYSE:NVT) by 27.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 326,388 shares of the company’s stock after selling 126,199 shares during the quarter. Wellington Management Group LLP’s holdings in nVent Electric were worth $22,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVT. Larson Financial Group LLC raised its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. UMB Bank n.a. increased its stake in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new stake in nVent Electric in the third quarter worth $29,000. ORG Partners LLC purchased a new stake in nVent Electric in the second quarter worth $31,000. Finally, First Foundation Advisors purchased a new stake in nVent Electric in the second quarter worth $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT stock opened at $74.97 on Friday. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. The stock’s 50-day moving average is $74.85 and its 200 day moving average is $72.85. The company has a market cap of $12.36 billion, a P/E ratio of 21.99, a PEG ratio of 3.88 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share 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 company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period in the previous year, the business earned $0.84 EPS. nVent Electric’s revenue for the quarter was up 9.4% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

Wall Street Analysts Forecast Growth

NVT has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Citigroup increased their target price on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays raised 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, KeyCorp raised 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric presently has a consensus rating of “Buy” and an average target price of $85.50.

Insiders Place Their Bets

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value 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. This trade represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

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.