nVent Electric plc (NYSE:NVT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 85.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,789 shares of the company's stock after selling 32,879 shares during the quarter. SG Americas Securities LLC's holdings in nVent Electric were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NVT. Nordea Investment Management AB boosted its holdings in nVent Electric by 15.5% during the 1st quarter. Nordea Investment Management AB now owns 75,323 shares of the company's stock valued at $5,684,000 after acquiring an additional 10,135 shares during the period. Federated Hermes Inc. boosted its holdings in nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company's stock valued at $31,479,000 after acquiring an additional 25,482 shares during the period. Mountain Pacific Investment Advisers Inc. ID boosted its holdings in nVent Electric by 85.1% during the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company's stock valued at $8,794,000 after acquiring an additional 53,633 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in nVent Electric by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company's stock valued at $14,344,000 after acquiring an additional 8,489 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in nVent Electric by 18.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company's stock valued at $23,099,000 after acquiring an additional 46,748 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NVT shares. KeyCorp raised their target price on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Monday. Barclays decreased their price objective 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. Finally, Royal Bank of Canada decreased their price objective on nVent Electric from $88.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has a consensus rating of "Buy" and an average price target of $85.67.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of the firm's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares of the company's stock, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Herbert K. Parker purchased 7,566 shares of the business's stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company's stock.

nVent Electric Stock Down 0.8 %

Shares of NVT traded down $0.60 during midday trading on Friday, hitting $75.31. The company had a trading volume of 1,077,116 shares, compared to its average volume of 1,537,193. The company's 50-day simple moving average is $67.84 and its 200-day simple moving average is $73.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The firm has a market capitalization of $12.50 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.47 and a beta of 1.27. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same period last year, the business posted $0.77 EPS. nVent Electric's revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts expect that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.16%.

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.