Quantinno Capital Management LP Acquires 9,218 Shares of nVent Electric plc (NYSE:NVT)

Quantinno Capital Management LP raised its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 14.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,486 shares of the company's stock after purchasing an additional 9,218 shares during the period. Quantinno Capital Management LP's holdings in nVent Electric were worth $5,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of NVT. Signaturefd LLC lifted its stake in nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company's stock valued at $66,000 after buying an additional 155 shares during the period. CIBC Asset Management Inc increased its stake in shares of nVent Electric by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock valued at $339,000 after acquiring an additional 166 shares during the last quarter. Larson Financial Group LLC raised its position in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock valued at $27,000 after acquiring an additional 181 shares during the period. Huntington National Bank boosted its stake in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company's stock worth $43,000 after acquiring an additional 223 shares during the last quarter. Finally, Anchor Investment Management LLC grew its holdings in nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company's stock valued at $44,000 after purchasing an additional 280 shares during the period. Institutional investors own 90.05% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NVT shares. Royal Bank of Canada reduced their price target on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. KeyCorp raised their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has a consensus rating of "Buy" and an average target price of $85.67.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares of the company's stock, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. The trade was a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 over the last ninety days. Insiders own 2.50% of the company's stock.

nVent Electric Stock Down 1.0 %

NVT traded down $0.80 during trading on Friday, hitting $76.89. The company had a trading volume of 993,149 shares, compared to its average volume of 1,522,910. The company has a market capitalization of $12.67 billion, a PE ratio of 22.55, a PEG ratio of 4.08 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a one year low of $53.96 and a one year high of $86.57. The firm's 50-day moving average price is $74.34 and its 200 day moving average price is $73.01.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly 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). The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, equities analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared 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. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is currently 22.29%.

nVent Electric Company 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.