nVent Electric plc (NYSE:NVT) Stake Lessened by Outfitter Financial LLC

Outfitter Financial LLC decreased its position in shares of nVent Electric plc (NYSE:NVT) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,214 shares of the company’s stock after selling 4,240 shares during the period. nVent Electric accounts for about 2.2% of Outfitter Financial LLC’s investment portfolio, making the stock its 12th largest holding. Outfitter Financial LLC’s holdings in nVent Electric were worth $2,809,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new stake in shares of nVent Electric in the 4th quarter worth $26,000. Larson Financial Group LLC raised its position 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 acquiring an additional 181 shares in the last quarter. Huntington National Bank lifted its holdings in nVent Electric by 57.3% in the 3rd 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. Brooklyn Investment Group acquired a new stake in nVent Electric in the 3rd quarter valued at about $44,000. Finally, Tsfg LLC bought a new position in shares of nVent Electric during the 4th quarter valued at about $51,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Trading Down 1.7 %

NYSE NVT opened at $66.57 on Friday. The firm’s 50 day moving average price is $69.09 and its two-hundred day moving average price is $70.12. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.51 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Equities analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

Analysts Set New Price Targets

Several analysts recently commented on NVT shares. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays lifted their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $86.33.

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.