nVent Electric PLC $NVT Shares Acquired by Trillium Asset Management LLC

Trillium Asset Management LLC increased its holdings in shares of nVent Electric PLC (NYSE:NVT) by 5.9% during the third quarter, Holdings Channel reports. The fund owned 133,751 shares of the company’s stock after acquiring an additional 7,422 shares during the quarter. Trillium Asset Management LLC’s holdings in nVent Electric were worth $21,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Optas LLC acquired a new stake in nVent Electric during the 3rd quarter valued at $204,000. Phoenix Financial Ltd. boosted its position in nVent Electric by 17.7% during the third quarter. Phoenix Financial Ltd. now owns 6,179 shares of the company’s stock worth $994,000 after purchasing an additional 929 shares during the period. Danske Bank A S boosted its position in nVent Electric by 32,354.7% during the third quarter. Danske Bank A S now owns 97,364 shares of the company’s stock worth $15,614,000 after purchasing an additional 97,064 shares during the period. Aberdeen Group plc bought a new position in nVent Electric during the third quarter worth $32,000. Finally, Allworth Financial LP raised its position in shares of nVent Electric by 5.5% in the third quarter. Allworth Financial LP now owns 5,643 shares of the company’s stock valued at $957,000 after purchasing an additional 296 shares during the period. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other news, Director Herbert Parker bought 3,000 shares of the company’s stock in a transaction dated Monday, November 9th. The stock was bought at an average price of $113.14 per share, with a total value of $339,420.00. Following the completion of the acquisition, the director owned 19,853 shares of the company’s stock, valued at $2,246,168.42. This represents a 17.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group reissued a “buy” rating on shares of nVent Electric in a research report on Tuesday, August 25th. JPMorgan Chase & Co. reduced their target price on shares of nVent Electric from $167.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $233.00 price target on shares of nVent Electric in a research note on Monday, November 2nd. Evercore reiterated an “outperform” rating and issued a $210.00 price target on shares of nVent Electric in a research note on Monday, August 3rd. Finally, Weiss Ratings cut shares of nVent Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $197.12.

nVent Electric Stock Performance

NYSE:NVT traded down $1.07 during mid-day trading on Friday, hitting $114.43. 2,428,655 shares of the stock were exchanged, compared to its average volume of 3,452,544. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 0.58 and a beta of 1.39. The firm’s 50-day simple moving average is $145.44 and its 200 day simple moving average is $144.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40. nVent Electric PLC has a fifty-two week low of $93.22 and a fifty-two week high of $184.64.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. As a group, equities analysts anticipate that nVent Electric PLC will post 5.36 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. nVent Electric’s dividend payout ratio (DPR) is currently 20.24%.

nVent Electric Company Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.