nVent Electric plc (NYSE:NVT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 38.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,163 shares of the company's stock after selling 14,502 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in nVent Electric were worth $1,627,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Haverford Trust Co lifted its holdings in nVent Electric by 3.5% in the 3rd quarter. Haverford Trust Co now owns 548,608 shares of the company's stock worth $38,545,000 after purchasing an additional 18,718 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in nVent Electric by 374.4% in the 3rd quarter. Victory Capital Management Inc. now owns 161,954 shares of the company's stock worth $11,379,000 after purchasing an additional 127,813 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in nVent Electric by 14.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 61,432 shares of the company's stock worth $4,316,000 after purchasing an additional 7,882 shares in the last quarter. Mayflower Financial Advisors LLC lifted its holdings in nVent Electric by 18.3% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 5,026 shares of the company's stock worth $353,000 after purchasing an additional 777 shares in the last quarter. Finally, Easterly Investment Partners LLC lifted its holdings in nVent Electric by 67.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 75,570 shares of the company's stock worth $5,310,000 after purchasing an additional 30,496 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays decreased their price objective on nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Finally, Royal Bank of Canada decreased their price objective on nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has a consensus rating of "Buy" and a consensus price target of $85.33.

nVent Electric Price Performance

NVT traded up $0.32 during trading on Monday, hitting $73.14. The company's stock had a trading volume of 1,201,558 shares, compared to its average volume of 1,580,320. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The business's fifty day simple moving average is $71.40 and its 200 day simple moving average is $73.24. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results 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 business had revenue of $782.00 million during the quarter, compared to analysts' expectations of $937.37 million. During the same quarter in the prior year, the firm earned $0.84 EPS. nVent Electric's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. nVent Electric's dividend payout ratio is currently 22.29%.

Insider Activity

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares of the company's stock, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 89,824 shares of company stock valued at $6,841,316. Insiders own 2.50% of the company's stock.

About nVent Electric

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.