Rempart Asset Management Inc. Reduces Stake in nVent Electric plc (NYSE:NVT)

Rempart Asset Management Inc. trimmed its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,750 shares of the company's stock after selling 12,570 shares during the quarter. nVent Electric accounts for approximately 4.1% of Rempart Asset Management Inc.'s investment portfolio, making the stock its 13th largest position. Rempart Asset Management Inc. owned 0.18% of nVent Electric worth $20,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. grew its holdings in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp boosted its position in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company's stock valued at $353,522,000 after buying an additional 42,465 shares during the period. Massachusetts Financial Services Co. MA grew its stake in nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock worth $374,201,000 after acquiring an additional 673,990 shares in the last quarter. Geode Capital Management LLC increased its position in shares of nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of nVent Electric by 23.6% during the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock worth $171,492,000 after acquiring an additional 466,042 shares during the period. Institutional investors own 90.05% of the company's stock.

Insiders Place Their Bets

In related news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction 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. Over the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by insiders.

nVent Electric Stock Down 0.8 %

Shares of NVT traded down $0.55 during trading hours on Wednesday, hitting $69.85. The company had a trading volume of 1,217,456 shares, compared to its average volume of 1,196,031. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $11.51 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27. nVent Electric plc has a one year low of $55.19 and a one year high of $86.57. The company's fifty day moving average price is $73.73 and its two-hundred day moving average price is $71.54.

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

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.15%. This is an increase from nVent Electric's previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. nVent Electric's dividend payout ratio (DPR) is 23.46%.

Wall Street Analyst Weigh In

NVT has been the topic of several research analyst reports. KeyCorp increased 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. Citigroup increased their price target on nVent Electric from $78.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Barclays lifted their price objective on nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada upped their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has an average rating of "Buy" and an average price target of $86.33.

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.