Bank of Montreal Can Decreases Position in nVent Electric plc (NYSE:NVT)

Bank of Montreal Can reduced its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 14.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 91,458 shares of the company's stock after selling 14,952 shares during the period. Bank of Montreal Can owned approximately 0.06% of nVent Electric worth $6,486,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position 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 acquiring an additional 181 shares during the last quarter. UMB Bank n.a. grew its holdings 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 valued at $29,000 after purchasing an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric in the 3rd quarter worth $29,000. ORG Partners LLC bought a new stake in nVent Electric in the second quarter worth $31,000. Finally, First Foundation Advisors purchased a new stake in nVent Electric during the second quarter valued at about $34,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Up 0.9 %

Shares of NVT stock traded up $0.69 during trading hours on Tuesday, reaching $78.18. The company's stock had a trading volume of 863,373 shares, compared to its average volume of 1,578,383. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $12.89 billion, a P/E ratio of 22.93, a P/E/G ratio of 3.99 and a beta of 1.25. The firm's fifty day simple moving average is $73.89 and its 200 day simple moving average is $73.04. nVent Electric plc has a one year low of $53.49 and a one year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results 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 company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same quarter last year, the firm earned $0.84 EPS. The business's revenue was up 9.4% on a year-over-year basis. Equities research analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 0.97%. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NVT shares. KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Royal Bank of Canada lowered their price objective 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. Finally, Barclays cut their target price on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $85.33.

Insider Buying and Selling at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares of the company's stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company's stock, valued at $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have 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 Company 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.