nVent Electric plc (NYSE:NVT) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its stake in nVent Electric plc (NYSE:NVT) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,723 shares of the company’s stock after selling 2,603 shares during the quarter. Hancock Whitney Corp’s holdings in nVent Electric were worth $1,713,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in nVent Electric in the fourth quarter worth about $109,630,000. Balyasny Asset Management L.P. raised its position in nVent Electric by 201.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock worth $82,802,000 after acquiring an additional 937,149 shares in the last quarter. Schroder Investment Management Group bought a new stake in nVent Electric in the fourth quarter worth about $51,781,000. Goldman Sachs Group Inc. raised its position in nVent Electric by 50.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock worth $96,519,000 after acquiring an additional 547,624 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in nVent Electric by 2,475.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 558,714 shares of the company’s stock worth $33,014,000 after acquiring an additional 537,020 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Barclays boosted their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Citigroup boosted their price objective on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Royal Bank of Canada cut their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

nVent Electric Stock Performance

NVT stock traded down $3.72 during midday trading on Thursday, hitting $68.91. The stock had a trading volume of 1,531,779 shares, compared to its average volume of 1,422,849. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.52 and a beta of 1.31. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57. The stock has a 50-day simple moving average of $77.65 and a 200 day simple moving average of $72.66. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. The firm had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. nVent Electric’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. As a group, equities research analysts anticipate that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a $0.19 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.10%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

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.