Thrivent Financial for Lutherans Grows Holdings in nVent Electric plc (NYSE:NVT)

Thrivent Financial for Lutherans lifted its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 18.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 429,615 shares of the company's stock after buying an additional 67,489 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.26% of nVent Electric worth $30,185,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company's stock valued at $29,000 after purchasing an additional 308 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric in the third quarter valued at about $29,000. ORG Partners LLC purchased a new stake in shares of nVent Electric in the 2nd quarter worth approximately $31,000. First Foundation Advisors purchased a new position in nVent Electric in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in nVent Electric in the second quarter valued at approximately $34,000. Institutional investors own 90.05% of the company's stock.

Insider Buying and Selling

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction 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 completion of the sale, the chief accounting officer now owns 25,993 shares of the company's stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now directly owns 62,215 shares of the company's stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,824 shares of company stock worth $6,841,316 over the last 90 days. 2.50% of the stock is owned by insiders.

nVent Electric Trading Down 1.6 %

Shares of NYSE:NVT traded down $1.24 during mid-day trading on Wednesday, reaching $74.27. 1,197,871 shares of the company were exchanged, compared to its average volume of 1,586,815. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 3.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57. The firm's 50-day simple moving average is $71.90 and its 200 day simple moving average is $73.25.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to analysts' expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. Equities research analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced 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. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVT. KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Barclays lowered their price objective on nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped 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, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $85.33.

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.