nVent Electric plc (NYSE:NVT) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 596,654 shares of the company's stock after selling 27,703 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.36% of nVent Electric worth $41,921,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock worth $374,201,000 after buying an additional 673,990 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after purchasing an additional 28,876 shares in the last quarter. Swedbank AB acquired a new stake in shares of nVent Electric in the 3rd quarter valued at about $110,663,000. Millennium Management LLC lifted its position in shares of nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock worth $103,161,000 after purchasing an additional 828,425 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in nVent Electric by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company's stock worth $72,752,000 after purchasing an additional 3,599 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was 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 represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were 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 approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by company insiders.

nVent Electric Stock Performance

NVT traded up $0.82 during trading on Wednesday, reaching $79.00. 1,166,429 shares of the company were exchanged, compared to its average volume of 1,576,536. nVent Electric plc has a 52 week low of $53.81 and a 52 week 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. The firm has a 50 day moving average of $73.89 and a 200 day moving average of $73.04. The stock has a market cap of $13.02 billion, a P/E ratio of 23.15, a PEG ratio of 3.99 and a beta of 1.25.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (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 firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's dividend payout ratio 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.