Whalen Wealth Management Inc. Purchases Shares of 10,935 nVent Electric plc (NYSE:NVT)

Whalen Wealth Management Inc. acquired a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,935 shares of the company's stock, valued at approximately $768,000.

Several other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock valued at $374,201,000 after acquiring an additional 673,990 shares in the last quarter. Boston Partners boosted its holdings in shares of nVent Electric by 3.2% during the 1st quarter. Boston Partners now owns 3,325,834 shares of the company's stock valued at $250,770,000 after acquiring an additional 102,643 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of nVent Electric by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after acquiring an additional 28,876 shares in the last quarter. Swedbank AB bought a new position in nVent Electric during the 3rd quarter worth $110,663,000. Finally, Millennium Management LLC raised its position in nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock worth $103,161,000 after purchasing an additional 828,425 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank of Canada lowered their target price on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Barclays lowered their target price on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp raised 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric currently has a consensus rating of "Buy" and a consensus target price of $85.33.

nVent Electric Trading Up 2.9 %

Shares of NVT stock traded up $2.13 during mid-day trading on Tuesday, hitting $75.52. The company's stock had a trading volume of 2,040,279 shares, compared to its average volume of 1,588,515. The company's fifty day simple moving average is $71.63 and its 200-day simple moving average is $73.26. nVent Electric plc has a 52 week low of $52.26 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $12.45 billion, a PE ratio of 21.52, a P/E/G ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share 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 period last year, the business posted $0.84 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

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

Insider Activity

In other 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 directly owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares of the company's stock, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,824 shares of company stock worth $6,841,316 in the last three months. Company insiders own 2.50% of the company's stock.

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.