Cerity Partners LLC Buys 26,832 Shares of nVent Electric plc (NYSE:NVT)

Cerity Partners LLC raised its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 145.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,248 shares of the company's stock after acquiring an additional 26,832 shares during the quarter. Cerity Partners LLC's holdings in nVent Electric were worth $3,179,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of nVent Electric by 16.0% in 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 purchasing an additional 673,990 shares during the last quarter. Principal Financial Group Inc. raised 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 buying an additional 28,876 shares in the last quarter. Swedbank AB acquired a new stake in shares of nVent Electric in the third quarter worth about $110,663,000. Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 828,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of nVent Electric by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company's stock valued at $72,752,000 after acquiring an additional 3,599 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Randolph A. Wacker sold 8,022 shares of the business'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 sale, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares of the company's stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last quarter. Company insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVT. Royal Bank of Canada reduced their target price on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Barclays reduced their price objective on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $85.33.

nVent Electric Stock Performance

Shares of NYSE:NVT traded up $1.77 during trading on Friday, hitting $78.31. 812,675 shares of the stock were exchanged, compared to its average volume of 2,052,405. The company has a market capitalization of $12.91 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 1-year low of $52.70 and a 1-year high of $86.57. The company's fifty day simple moving average is $73.57 and its 200-day simple moving average is $73.07.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. Sell-side analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.

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.