Linden Thomas Advisory Services LLC Has $2.52 Million Stock Position in nVent Electric plc (NYSE:NVT)

Linden Thomas Advisory Services LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,952 shares of the company’s stock after selling 321 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in nVent Electric were worth $2,519,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after buying an additional 1,269,335 shares during the last quarter. State Street Corp boosted its stake in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares during the last quarter. Geode Capital Management LLC grew its holdings in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Janus Henderson Group PLC raised its position in shares of nVent Electric by 23.6% during the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after acquiring an additional 466,042 shares during the last quarter. Finally, Clean Energy Transition LLP lifted its stake in shares of nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after purchasing an additional 813,909 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Trading Down 0.6 %

NYSE NVT opened at $74.81 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The stock’s 50-day moving average is $73.08 and its 200-day moving average is $71.19. nVent Electric plc has a one year low of $56.44 and a one year high of $86.57. The firm has a market cap of $12.33 billion, a P/E ratio of 21.94, a P/E/G ratio of 3.49 and a beta of 1.27.

nVent Electric (NYSE:NVT) last announced its earnings results 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 for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. Sell-side analysts anticipate that nVent Electric plc will post 2.49 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid 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 dividend on an annualized basis and a yield of 1.07%. nVent Electric’s dividend payout ratio is presently 23.46%.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,382 shares of company stock worth $7,365,956. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVT. Royal Bank of Canada lifted their price objective on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. KeyCorp increased their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays boosted their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $86.17.

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.