Verition Fund Management LLC Decreases Stake in nVent Electric plc (NYSE:NVT)

Verition Fund Management LLC lessened its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 39.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,822 shares of the company's stock after selling 76,552 shares during the period. Verition Fund Management LLC owned about 0.07% of nVent Electric worth $8,278,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after acquiring an additional 181 shares in the last quarter. ORG Partners LLC bought a new position in shares of nVent Electric during the second quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new position in nVent Electric during the third quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after buying an additional 308 shares in the last quarter. Finally, First Foundation Advisors purchased a new stake in nVent Electric during the second quarter worth $34,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Transactions at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 62,215 shares of the company's stock, valued at approximately $4,775,623.40. This trade represents 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 valued at $7,365,956 over the last ninety days. Insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. KeyCorp upped 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. Barclays lowered their price target on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, November 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $85.33.

nVent Electric Stock Performance

NVT traded down $0.82 during midday trading on Monday, hitting $77.49. 1,398,088 shares of the company were exchanged, compared to its average volume of 1,581,415. The company's 50 day simple moving average is $73.72 and its 200 day simple moving average is $73.05. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26. nVent Electric plc has a 1-year low of $53.49 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 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 company had revenue of $782.00 million during the quarter, compared to analysts' expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. As a group, sell-side analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.

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.