Raymond James & Associates Has $18.82 Million Stock Position in nVent Electric plc (NYSE:NVT)

Raymond James & Associates trimmed its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 10.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 267,788 shares of the company's stock after selling 29,893 shares during the period. Raymond James & Associates owned approximately 0.16% of nVent Electric worth $18,815,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company's stock valued at $66,000 after acquiring an additional 155 shares in the last quarter. 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 valued at $145,000 after acquiring an additional 272 shares during the period. Anchor Investment Management LLC raised its stake in nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company's stock worth $44,000 after acquiring an additional 280 shares in the last quarter. Sciencast Management LP lifted its holdings in shares of nVent Electric by 7.1% during the first quarter. Sciencast Management LP now owns 4,397 shares of the company's stock valued at $332,000 after acquiring an additional 293 shares during the period. Finally, Banque Cantonale Vaudoise boosted its stake in shares of nVent Electric by 87.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company's stock valued at $49,000 after purchasing an additional 299 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on NVT. KeyCorp boosted 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. Royal Bank of Canada dropped their price target on nVent Electric from $88.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Finally, Barclays lowered their target price 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $85.67.

nVent Electric Trading Down 1.1 %

Shares of NVT traded down $0.80 during trading hours on Friday, hitting $73.34. 1,155,170 shares of the stock traded hands, compared to its average volume of 1,525,423. The business has a fifty day moving average of $68.73 and a 200-day moving average of $73.16. The firm has a market capitalization of $12.18 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.50 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. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

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

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.04%. nVent Electric's dividend payout ratio is presently 22.16%.

Insiders Place Their Bets

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

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.