nVent Electric PLC $NVT Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lowered its position in shares of nVent Electric PLC (NYSE:NVT) by 32.2% during the fourth quarter, HoldingsChannel reports. The firm owned 25,420 shares of the company’s stock after selling 12,090 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in nVent Electric were worth $2,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NVT. Norges Bank purchased a new stake in nVent Electric during the 2nd quarter worth $234,290,000. Holocene Advisors LP purchased a new position in nVent Electric in the 3rd quarter valued at about $151,265,000. Balyasny Asset Management L.P. boosted its position in nVent Electric by 3,467.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,326,100 shares of the company’s stock valued at $130,807,000 after buying an additional 1,288,924 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of nVent Electric during the second quarter valued at about $78,222,000. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of nVent Electric during the second quarter worth about $48,443,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Up 4.7%

Shares of NYSE NVT opened at $118.06 on Wednesday. The stock’s 50 day moving average price is $115.04 and its two-hundred day moving average price is $107.60. nVent Electric PLC has a 52-week low of $41.71 and a 52-week high of $129.94. The stock has a market capitalization of $19.09 billion, a P/E ratio of 27.46, a PEG ratio of 1.17 and a beta of 1.31. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41.

nVent Electric (NYSE:NVT) last issued its earnings results on Saturday, February 7th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm earned $0.59 EPS. The business’s revenue was up 41.9% on a year-over-year basis. On average, analysts anticipate that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, April 24th. This represents a $0.84 annualized dividend and a yield of 0.7%. nVent Electric’s payout ratio is presently 19.53%.

Analysts Set New Price Targets

NVT has been the subject of a number of analyst reports. Royal Bank Of Canada increased their price target on nVent Electric from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. Glj Research initiated coverage on nVent Electric in a research report on Thursday, March 5th. They issued a “buy” rating and a $151.00 target price on the stock. Weiss Ratings upgraded nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 11th. Zacks Research lowered shares of nVent Electric from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Barclays upped their price target on shares of nVent Electric from $140.00 to $141.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.50.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 5,244 shares of nVent Electric stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the transaction, the director directly owned 46,371 shares of the company’s stock, valued at approximately $5,206,072.17. The trade was a 10.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Beth Wozniak sold 7,597 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total transaction of $884,822.59. Following the sale, the chief executive officer directly owned 52,990 shares of the company’s stock, valued at approximately $6,171,745.30. This represents a 12.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 17,841 shares of company stock valued at $2,046,166. Company insiders own 2.50% of the company’s stock.

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.