Fmr LLC Sells 4,147,830 Shares of nVent Electric plc (NYSE:NVT)

FMR LLC cut its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 39.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,418,531 shares of the company's stock after selling 4,147,830 shares during the quarter. FMR LLC owned 3.89% of nVent Electric worth $450,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVT. Signaturefd LLC lifted its position in shares of nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company's stock valued at $66,000 after acquiring an additional 155 shares during the period. CIBC Asset Management Inc raised its holdings in shares of nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock valued at $339,000 after purchasing an additional 166 shares during the period. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 181 shares during the period. Huntington National Bank boosted its position in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company's stock worth $43,000 after purchasing an additional 223 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of nVent Electric by 15.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company's stock valued at $145,000 after buying an additional 272 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Jon D. Lammers sold 67,297 shares of the company'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 value of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the company'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 transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,382 shares of company stock valued at $7,365,956. Insiders own 2.50% of the company's stock.

nVent Electric Stock Up 2.3 %

nVent Electric stock traded up $1.77 during trading on Friday, hitting $78.31. 812,675 shares of the company were exchanged, compared to its average volume of 1,582,169. The company has a market capitalization of $12.91 billion, a P/E ratio of 22.96, a PEG ratio of 3.94 and a beta of 1.26. The business's 50 day moving average is $73.57 and its 200 day moving average is $73.15. nVent Electric plc has a 52 week low of $52.70 and a 52 week high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the previous year, the company posted $0.84 earnings per share. 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 earnings per share for the current 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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. nVent Electric's dividend payout ratio (DPR) is currently 22.29%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NVT shares. Royal Bank of Canada cut their price target 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 upped 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. Finally, Barclays decreased their price target 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $85.33.

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.