Ceredex Value Advisors LLC Grows Stock Holdings in nVent Electric plc (NYSE:NVT)

Ceredex Value Advisors LLC lifted its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 54.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 767,650 shares of the company's stock after acquiring an additional 270,100 shares during the period. nVent Electric accounts for about 1.1% of Ceredex Value Advisors LLC's holdings, making the stock its 27th biggest position. Ceredex Value Advisors LLC owned approximately 0.46% of nVent Electric worth $53,935,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of nVent Electric by 36.5% during the first quarter. Van ECK Associates Corp now owns 57,767 shares of the company's stock worth $4,356,000 after buying an additional 15,450 shares during the period. Private Advisor Group LLC grew its stake in shares of nVent Electric by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company's stock valued at $498,000 after purchasing an additional 382 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of nVent Electric in the first quarter valued at approximately $464,000. BNP Paribas Financial Markets raised its stake in shares of nVent Electric by 3.2% during the first quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company's stock worth $5,025,000 after purchasing an additional 2,064 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of nVent Electric by 92.7% during the first quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company's stock worth $1,423,000 after purchasing an additional 9,081 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on shares of nVent Electric from $88.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Finally, 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 report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $85.67.

nVent Electric Price Performance

Shares of NVT traded down $6.29 during trading hours on Friday, reaching $68.28. The company had a trading volume of 6,701,147 shares, compared to its average volume of 1,547,997. 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 plc has a 12-month low of $49.05 and a 12-month high of $86.57. The firm has a 50 day simple moving average of $69.47 and a 200-day simple moving average of $73.12. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.52 and a beta of 1.26.

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 analysts' consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million during the quarter, compared to analysts' expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Research analysts expect that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given 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 yield of 1.11%. nVent Electric's payout ratio is 22.22%.

Insider Buying and Selling at nVent Electric

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

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.