nVent Electric plc (NYSE:NVT) Stock Holdings Cut by Stifel Financial Corp

Stifel Financial Corp trimmed its stake in nVent Electric plc (NYSE:NVT - Free Report) by 30.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,081 shares of the company's stock after selling 34,692 shares during the quarter. Stifel Financial Corp's holdings in nVent Electric were worth $5,556,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC grew its position in shares of 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 purchasing an additional 155 shares during the period. CIBC Asset Management Inc grew its position in nVent Electric by 3.6% during the third 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 period. Larson Financial Group LLC grew its position in nVent Electric by 91.9% during the third 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 grew its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company's stock valued at $43,000 after acquiring an additional 223 shares during the period. Finally, Anchor Investment Management LLC grew its position 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 acquiring an additional 280 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Barclays boosted their price target on nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Royal Bank of Canada lowered their price target on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Finally, KeyCorp boosted their price target on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $85.50.

Insider Buying and Selling

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jerry W. Burris sold 6,558 shares of the company's 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 sale, the director now owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Down 0.7 %

Shares of NVT traded down $0.56 during midday trading on Friday, reaching $75.03. 1,439,354 shares of the company were exchanged, compared to its average volume of 1,569,457. The stock has a 50-day moving average price of $74.96 and a 200-day moving average price of $72.71. The company has a market cap of $12.37 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 3.88 and a beta of 1.25. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. 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 (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the firm posted $0.84 EPS. The company's revenue was up 9.4% compared to the same quarter last year. Research analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is 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.