Commerce Bank Has $58.60 Million Position in nVent Electric plc (NYSE:NVT)

Commerce Bank increased its stake in nVent Electric plc (NYSE:NVT - Free Report) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 834,042 shares of the company's stock after acquiring an additional 12,302 shares during the quarter. Commerce Bank owned approximately 0.51% of nVent Electric worth $58,600,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Blair William & Co. IL acquired a new stake in shares of nVent Electric in the first quarter worth $229,000. Pinnbrook Capital Management LP acquired a new stake in nVent Electric during the first quarter valued at $17,768,000. Brant Point Investment Management LLC boosted its position in nVent Electric by 7.2% during the first quarter. Brant Point Investment Management LLC now owns 95,666 shares of the company's stock valued at $7,213,000 after purchasing an additional 6,445 shares during the last quarter. 1832 Asset Management L.P. increased its stake in nVent Electric by 4,741.9% during the first quarter. 1832 Asset Management L.P. now owns 164,623 shares of the company's stock valued at $12,413,000 after acquiring an additional 161,223 shares during the period. Finally, LRI Investments LLC bought a new position in nVent Electric during the first quarter valued at about $51,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on NVT. Royal Bank of Canada decreased their price objective on nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Finally, Barclays decreased their price objective on nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has a consensus rating of "Buy" and a consensus price target of $85.33.

nVent Electric Trading Down 1.3 %

NYSE:NVT traded down $1.01 during trading hours on Wednesday, hitting $74.50. 651,116 shares of the stock were exchanged, compared to its average volume of 1,584,385. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The company's 50 day moving average is $71.90 and its two-hundred day moving average is $73.25. The company has a market capitalization of $12.28 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS 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 firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the prior year, the company earned $0.84 EPS. nVent Electric's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. nVent Electric's dividend payout ratio is 22.29%.

Insider Transactions at nVent Electric

In other news, 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 approximately $4,421,264.47. This trade represents a 53.66 % 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 hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. 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. Insiders own 2.50% of the company's stock.

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.