Versor Investments LP Decreases Stock Position in nVent Electric plc (NYSE:NVT)

Versor Investments LP trimmed its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 60.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,418 shares of the company's stock after selling 17,535 shares during the quarter. Versor Investments LP's holdings in nVent Electric were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its stake in shares of nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company's stock worth $31,479,000 after buying an additional 25,482 shares during the period. State Board of Administration of Florida Retirement System lifted its position in nVent Electric by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company's stock worth $14,344,000 after acquiring an additional 8,489 shares during the period. DekaBank Deutsche Girozentrale grew its stake in nVent Electric by 18.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company's stock valued at $23,099,000 after purchasing an additional 46,748 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of nVent Electric by 143.8% in the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company's stock valued at $3,476,000 after purchasing an additional 27,196 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of nVent Electric by 92.7% in the first quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company's stock worth $1,423,000 after purchasing an additional 9,081 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares of the company's stock, valued at approximately $4,421,264.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm's 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 transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

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

nVent Electric Stock Performance

Shares of NVT traded up $0.85 during trading hours on Wednesday, hitting $76.82. The stock had a trading volume of 578,170 shares, compared to its average volume of 1,574,881. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 3.91 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The firm has a 50-day moving average price of $70.67 and a 200 day moving average price of $73.21. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share 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 analyst estimates of $937.37 million. During the same quarter last year, the company posted $0.84 EPS. The company's revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's payout ratio is currently 22.29%.

About nVent Electric

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.