Factorial Partners LLC Sells 8,700 Shares of nVent Electric plc (NYSE:NVT)

Factorial Partners LLC trimmed its position in nVent Electric plc (NYSE:NVT - Free Report) by 40.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,900 shares of the company's stock after selling 8,700 shares during the period. Factorial Partners LLC's holdings in nVent Electric were worth $906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blair William & Co. IL bought a new position in nVent Electric during the first quarter valued at about $229,000. Pinnbrook Capital Management LP bought a new stake in nVent Electric during the first quarter worth about $17,768,000. Brant Point Investment Management LLC grew its position in nVent Electric by 7.2% during the first quarter. Brant Point Investment Management LLC now owns 95,666 shares of the company's stock worth $7,213,000 after buying an additional 6,445 shares in the last quarter. 1832 Asset Management L.P. raised its position in nVent Electric by 4,741.9% during the 1st quarter. 1832 Asset Management L.P. now owns 164,623 shares of the company's stock worth $12,413,000 after purchasing an additional 161,223 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in nVent Electric in the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Buying and Selling at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm'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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,824 shares of company stock valued at $6,841,316. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. KeyCorp upped 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 cut their price target on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price objective on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric has a consensus rating of "Buy" and a consensus target price of $85.33.

nVent Electric Price Performance

nVent Electric stock traded down $1.24 during mid-day trading on Wednesday, reaching $74.27. The company had a trading volume of 1,546,237 shares, compared to its average volume of 1,588,363. The business has a fifty day simple moving average of $71.90 and a 200 day simple moving average of $73.25. The company has a market cap of $12.24 billion, a P/E ratio of 22.15, a P/E/G ratio of 3.75 and a beta of 1.26. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two 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 announced 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). 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 analysts' expectations of $937.37 million. During the same period last year, the business posted $0.84 EPS. The company's revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's payout ratio is currently 22.29%.

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.