Assetmark Inc. Has $158,000 Stake in nVent Electric plc (NYSE:NVT)

Assetmark Inc. reduced its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 89.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,253 shares of the company's stock after selling 19,361 shares during the quarter. Assetmark Inc.'s holdings in nVent Electric were worth $158,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake 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 worth $374,201,000 after acquiring an additional 673,990 shares in the last quarter. Boston Partners boosted its position in nVent Electric by 3.2% during the first quarter. Boston Partners now owns 3,325,834 shares of the company's stock worth $250,770,000 after purchasing an additional 102,643 shares during the period. Principal Financial Group Inc. grew its holdings in nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after purchasing an additional 28,876 shares during the last quarter. Swedbank AB bought a new position in shares of nVent Electric in the third quarter valued at approximately $110,663,000. Finally, Millennium Management LLC lifted its stake in shares of nVent Electric by 159.9% in the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock worth $103,161,000 after buying an additional 828,425 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NVT shares. KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Barclays cut 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. Finally, Royal Bank of Canada lowered their price objective on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $85.33.

Insiders Place Their Bets

In other news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction dated 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 directly owns 25,993 shares of the company's stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,824 shares of company stock valued at $6,841,316 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Trading Up 0.8 %

NYSE NVT traded up $0.57 during trading on Monday, reaching $73.39. 2,566,680 shares of the stock traded hands, compared to its average volume of 1,586,442. The stock's 50-day moving average price is $71.40 and its 200 day moving average price is $73.24. 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 firm has a market cap of $12.10 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last released 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 net margin of 16.95% and a return on equity of 15.66%. The business 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 firm earned $0.84 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors 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 1.04%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is currently 22.29%.

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.