US Bancorp DE Has $13.21 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

US Bancorp DE lessened its stake in nVent Electric plc (NYSE:NVT - Free Report) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,041 shares of the company's stock after selling 20,763 shares during the quarter. US Bancorp DE owned 0.11% of nVent Electric worth $13,212,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Swedbank AB acquired a new stake in nVent Electric in the 3rd quarter valued at approximately $110,663,000. Millennium Management LLC raised its holdings in shares of nVent Electric by 159.9% in the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock valued at $103,161,000 after purchasing an additional 828,425 shares during the last quarter. Massachusetts Financial Services Co. MA lifted 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 worth $374,201,000 after purchasing an additional 673,990 shares in the last quarter. HM Payson & Co. boosted its holdings 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 purchasing an additional 437,986 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in nVent Electric in the first quarter valued at $22,784,000. Institutional investors own 90.05% of the company's stock.

Insider Activity at nVent Electric

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

Wall Street Analysts Forecast Growth

NVT has been the topic of several analyst reports. Royal Bank of Canada cut 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 report on Wednesday, August 7th. KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Finally, Barclays decreased their price target 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 analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has an average rating of "Buy" and a consensus price target of $85.67.

nVent Electric Stock Performance

nVent Electric stock traded down $6.29 during midday trading on Friday, reaching $68.28. 6,701,147 shares of the company's stock were exchanged, compared to its average volume of 1,547,997. 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 stock's 50-day simple moving average is $69.47 and its 200 day simple moving average is $73.12. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.52 and a beta of 1.26. nVent Electric plc has a 52 week low of $49.05 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates 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 in the previous year, the firm posted $0.77 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's payout ratio is 22.22%.

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.