Oliver Luxxe Assets LLC Has $4.19 Million Holdings in nVent Electric plc (NYSE:NVT)

Oliver Luxxe Assets LLC trimmed its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,520 shares of the company's stock after selling 12,732 shares during the period. Oliver Luxxe Assets LLC's holdings in nVent Electric were worth $4,193,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nordea Investment Management AB grew its stake in nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock valued at $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of nVent Electric in the 4th quarter valued at approximately $273,000. GAMMA Investing LLC grew its stake in shares of nVent Electric by 27.4% in the fourth quarter. GAMMA Investing LLC now owns 1,994 shares of the company's stock valued at $136,000 after buying an additional 429 shares in the last quarter. Principal Financial Group Inc. increased 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 worth $123,891,000 after buying an additional 28,876 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock worth $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Stock Performance

nVent Electric stock traded up $0.72 during midday trading on Monday, hitting $71.37. The company's stock had a trading volume of 1,618,104 shares, compared to its average volume of 1,179,201. The company has a 50-day moving average price of $73.88 and a two-hundred day moving average price of $71.64. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 3.86 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) 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. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. As a group, sell-side analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $0.20 per share. This is a boost from nVent Electric's previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. This represents a $0.80 annualized dividend and a yield of 1.12%. nVent Electric's dividend payout ratio is currently 23.46%.

Insiders Place Their Bets

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred 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 transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Analyst Ratings Changes

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

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.