Running Oak Capital LLC Reduces Stock Holdings in nVent Electric PLC $NVT

Running Oak Capital LLC trimmed its position in nVent Electric PLC (NYSE:NVT) by 15.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 203,139 shares of the company’s stock after selling 36,264 shares during the period. nVent Electric comprises 2.2% of Running Oak Capital LLC’s investment portfolio, making the stock its 2nd biggest position. Running Oak Capital LLC owned approximately 0.13% of nVent Electric worth $20,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BCS Private Wealth Management Inc. lifted its holdings in nVent Electric by 1.5% during the third quarter. BCS Private Wealth Management Inc. now owns 6,631 shares of the company’s stock worth $654,000 after acquiring an additional 100 shares during the period. Fulton Bank N.A. increased its position in shares of nVent Electric by 1.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,242 shares of the company’s stock valued at $1,010,000 after purchasing an additional 111 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of nVent Electric by 1.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 6,137 shares of the company’s stock worth $605,000 after purchasing an additional 113 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of nVent Electric by 3.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,435 shares of the company’s stock worth $357,000 after buying an additional 120 shares during the last quarter. Finally, Lodestone Wealth Management LLC grew its position in nVent Electric by 4.2% during the third quarter. Lodestone Wealth Management LLC now owns 3,321 shares of the company’s stock valued at $328,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Barclays increased their price objective on nVent Electric from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. The Goldman Sachs Group boosted their target price on nVent Electric from $111.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen raised nVent Electric from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of nVent Electric in a report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $123.63.

nVent Electric Stock Up 3.1%

Shares of NYSE NVT opened at $115.75 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.44. The company has a market cap of $18.68 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.20 and a beta of 1.33. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $117.52. The business has a 50-day simple moving average of $106.69 and a two-hundred day simple moving average of $99.47.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. nVent Electric had a net margin of 16.83% and a return on equity of 14.29%. The company’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. Research analysts anticipate that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 23rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This is an increase from nVent Electric’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. nVent Electric’s payout ratio is currently 23.14%.

Insiders Place Their Bets

In other news, CEO Beth Wozniak sold 4,137 shares of nVent Electric stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $110.35, for a total transaction of $456,517.95. Following the completion of the sale, the chief executive officer owned 47,984 shares in the company, valued at approximately $5,295,034.40. This trade represents a 7.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sara E. Zawoyski sold 115,557 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $112.78, for a total transaction of $13,032,518.46. Following the completion of the transaction, the insider owned 66,680 shares in the company, valued at approximately $7,520,170.40. This trade represents a 63.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 130,285 shares of company stock worth $14,621,124. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.