Wright Investors Service Inc. Sells 205 Shares of nVent Electric plc (NYSE:NVT)

Wright Investors Service Inc. lessened its position in nVent Electric plc (NYSE:NVT) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,612 shares of the company’s stock after selling 205 shares during the quarter. Wright Investors Service Inc.’s holdings in nVent Electric were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares during the last quarter. Larson Financial Group LLC boosted its stake in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Huntington National Bank grew its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of nVent Electric by 5.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock worth $432,000 after acquiring an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NVT. Royal Bank of Canada increased their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup reduced their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday. KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays increased their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus target price of $86.17.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $68.80 on Tuesday. 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 company has a market cap of $11.34 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27. nVent Electric plc has a 12 month low of $55.19 and a 12 month high of $86.57. The company has a 50-day moving average price of $73.55 and a 200-day moving average price of $71.32.

nVent Electric (NYSE:NVT) 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). The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. As a group, equities analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.20 dividend. The ex-dividend date is Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.16%. nVent Electric’s dividend payout ratio is 23.46%.

Insider Transactions at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction 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 approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

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.