nVent Electric plc (NYSE:NVT) Stake Lifted by Haverford Trust Co

Haverford Trust Co grew its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 548,608 shares of the company's stock after buying an additional 18,718 shares during the quarter. Haverford Trust Co owned 0.33% of nVent Electric worth $38,545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ORG Partners LLC purchased a new stake in nVent Electric during the second quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new stake in nVent Electric during the third quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after purchasing an additional 308 shares during the last quarter. First Foundation Advisors purchased a new stake in nVent Electric during the second quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in nVent Electric during the second quarter worth approximately $34,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

Shares of NYSE:NVT traded up $0.43 during trading on Wednesday, reaching $76.40. The company had a trading volume of 791,843 shares, compared to its average volume of 1,575,757. The stock's fifty day moving average price is $70.67 and its 200 day moving average price is $73.21. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57. The firm has a market capitalization of $12.59 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 3.91 and a beta of 1.26. 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 announced its quarterly earnings data 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the company earned $0.84 EPS. The company's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given 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 0.99%. nVent Electric's payout ratio is 22.29%.

Insiders Place Their Bets

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on NVT shares. Barclays cut their price target on nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 2nd. 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 research report on Monday, November 4th. Finally, KeyCorp lifted their price target on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $85.33.

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.