Zurcher Kantonalbank Zurich Cantonalbank Sells 521,328 Shares of nVent Electric plc (NYSE:NVT)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 66.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 262,134 shares of the company's stock after selling 521,328 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.16% of nVent Electric worth $18,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NVT. Signaturefd LLC increased its position in shares of nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company's stock worth $66,000 after purchasing an additional 155 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of nVent Electric by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock worth $339,000 after buying an additional 166 shares during the last quarter. Larson Financial Group LLC raised its position in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock valued at $27,000 after buying an additional 181 shares in the last quarter. Huntington National Bank lifted its holdings in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company's stock worth $43,000 after acquiring an additional 223 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company's stock worth $145,000 after acquiring an additional 272 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 6,558 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction 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 approximately $4,421,264.47. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 over the last ninety days. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

NVT has been the subject of several research analyst reports. Barclays dropped their price target on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Finally, KeyCorp increased their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $85.33.

nVent Electric Trading Up 2.3 %

nVent Electric stock traded up $1.77 during trading hours on Friday, reaching $78.31. The company had a trading volume of 812,675 shares, compared to its average volume of 1,582,169. 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 plc has a 12-month low of $52.70 and a 12-month high of $86.57. The company has a 50-day moving average price of $73.57 and a 200 day moving average price of $73.21. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 3.94 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analysts' expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. Equities analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced 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. 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 0.97%. nVent Electric's dividend payout ratio is currently 22.29%.

nVent Electric 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.