Vaughan Nelson Investment Management L.P. Raises Stock Holdings in nVent Electric plc (NYSE:NVT)

Vaughan Nelson Investment Management L.P. boosted its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 32.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 684,732 shares of the company's stock after buying an additional 167,632 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.42% of nVent Electric worth $48,110,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. ORG Partners LLC acquired a new stake in nVent Electric in the 2nd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in nVent Electric during the 3rd quarter worth $29,000. UMB Bank n.a. boosted its holdings in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after acquiring an additional 308 shares during the last quarter. First Foundation Advisors purchased a new position in nVent Electric during the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of nVent Electric in the 2nd quarter worth about $34,000. Institutional investors own 90.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVT. KeyCorp boosted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Barclays lowered their price objective on nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $85.33.

Insider Activity at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the business'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 value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $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 over the last quarter. 2.50% of the stock is owned by corporate insiders.

nVent Electric Price Performance

NVT traded down $1.13 during midday trading on Friday, hitting $72.82. The stock had a trading volume of 2,382,461 shares, compared to its average volume of 1,970,288. The company has a market cap of $12.00 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26. The business has a fifty day moving average of $71.40 and a 200 day moving average of $73.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last released 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). The company had revenue of $782.00 million for the quarter, compared to analysts' expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.84 EPS. As a group, equities analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced 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 dividend yield of 1.04%. nVent Electric's dividend payout ratio is presently 22.29%.

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.