Orion Portfolio Solutions LLC Sells 19,861 Shares of nVent Electric plc (NYSE:NVT)

Orion Portfolio Solutions LLC decreased its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 58.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,905 shares of the company's stock after selling 19,861 shares during the quarter. Orion Portfolio Solutions LLC's holdings in nVent Electric were worth $977,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Swedbank AB bought a new position in nVent Electric in the 3rd quarter worth approximately $110,663,000. Millennium Management LLC increased its stake in shares of nVent Electric by 159.9% in the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock valued at $103,161,000 after buying an additional 828,425 shares during the period. Clean Energy Transition LLP raised its position in shares of nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock worth $158,411,000 after acquiring an additional 813,909 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of nVent Electric by 16.0% during 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. Finally, Janus Henderson Group PLC boosted its holdings in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock valued at $171,492,000 after acquiring an additional 466,042 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada dropped their price objective on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Barclays boosted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, Citigroup upped their target price on shares of nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric currently has a consensus rating of "Buy" and a consensus price target of $85.50.

Insider Activity at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction dated 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 owns 25,993 shares in the company, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry W. Burris sold 6,558 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by company insiders.

nVent Electric Trading Up 0.8 %

NYSE:NVT traded up $0.61 during trading hours on Monday, hitting $75.64. The stock had a trading volume of 1,305,070 shares, compared to its average volume of 1,398,659. The business's 50 day moving average is $75.03 and its 200-day moving average is $72.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 3.86 and a beta of 1.25. nVent Electric plc has a one year low of $55.19 and a one 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 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the prior year, the company earned $0.84 EPS. nVent Electric's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. This is a boost from nVent Electric's previous quarterly dividend of $0.19. nVent Electric's payout ratio is 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.