Victory Capital Management Inc. Increases Stock Holdings in nVent Electric plc (NYSE:NVT)

Victory Capital Management Inc. boosted its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 374.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,954 shares of the company's stock after acquiring an additional 127,813 shares during the quarter. Victory Capital Management Inc. owned 0.10% of nVent Electric worth $11,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVT. Swedbank AB bought a new position in nVent Electric during the third quarter worth about $110,663,000. Millennium Management LLC increased its stake in shares of nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock worth $103,161,000 after purchasing an additional 828,425 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock valued at $374,201,000 after acquiring an additional 673,990 shares during the period. HM Payson & Co. increased its position in nVent Electric by 109,496.5% during the third quarter. HM Payson & Co. now owns 438,386 shares of the company's stock worth $30,801,000 after acquiring an additional 437,986 shares during the period. Finally, DigitalBridge Group Inc. bought a new position in shares of nVent Electric during the second quarter worth approximately $21,291,000. Institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

NYSE NVT traded up $3.69 during trading hours on Thursday, hitting $77.96. The company had a trading volume of 1,919,444 shares, compared to its average volume of 1,589,897. The firm has a 50 day simple moving average of $72.10 and a 200 day simple moving average of $73.26. 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 52 week low of $52.26 and a 52 week high of $86.57. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 3.89 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS 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 company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the previous year, the company earned $0.84 EPS. nVent Electric's quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NVT. 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 note on Monday, November 4th. KeyCorp increased their price target on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, Barclays reduced their target price on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has an average rating of "Buy" and a consensus price target of $85.33.

Insider Buying and Selling 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 shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company's stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,824 shares of company stock worth $6,841,316 in the last three months. 2.50% of the stock is currently owned by company insiders.

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.