JPMorgan Chase & Co. Sells 308,360 Shares of nVent Electric plc (NYSE:NVT)

JPMorgan Chase & Co. decreased its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 38.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 503,323 shares of the company's stock after selling 308,360 shares during the quarter. JPMorgan Chase & Co. owned about 0.31% of nVent Electric worth $35,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its position in nVent Electric by 1.4% during the second quarter. Arizona State Retirement System now owns 46,212 shares of the company's stock valued at $3,540,000 after buying an additional 616 shares during the period. Private Advisor Group LLC lifted its position in nVent Electric by 23.4% during the 2nd quarter. Private Advisor Group LLC now owns 8,140 shares of the company's stock valued at $624,000 after acquiring an additional 1,542 shares during the period. Oak Thistle LLC bought a new stake in nVent Electric during the second quarter worth about $256,000. Trium Capital LLP grew its holdings in nVent Electric by 138.1% in the second quarter. Trium Capital LLP now owns 13,204 shares of the company's stock worth $1,012,000 after purchasing an additional 7,658 shares during the period. Finally, First Foundation Advisors purchased a new stake in nVent Electric in the second quarter worth about $34,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on NVT shares. Barclays boosted their price target on nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Citigroup upped their price target on shares of nVent Electric from $78.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Royal Bank of Canada increased their target price on nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday. Finally, KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric currently has a consensus rating of "Buy" and an average target price of $86.33.

nVent Electric Stock Performance

nVent Electric stock traded down $0.92 during mid-day trading on Tuesday, reaching $70.41. 1,225,181 shares of the stock traded hands, compared to its average volume of 1,190,695. nVent Electric plc has a 12-month low of $55.19 and a 12-month high of $86.57. The business's 50-day moving average is $73.81 and its 200-day moving average is $71.59. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The stock has a market capitalization of $11.60 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27.

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 for the quarter, missing the consensus estimate of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. As a group, sell-side analysts predict that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.20 dividend. This is a boost from nVent Electric's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, January 17th. nVent Electric's dividend payout ratio (DPR) is currently 23.46%.

Insider Activity at nVent Electric

In related news, 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 completion of the transaction, the chief accounting officer now owns 25,993 shares of the company's stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares of the company's stock, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock worth $7,365,956. Corporate insiders own 2.50% of the company's stock.

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.