nVent Electric plc (NYSE:NVT) Stock Holdings Lessened by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC cut its stake in shares of nVent Electric plc (NYSE:NVT) by 17.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,520 shares of the company’s stock after selling 12,732 shares during the period. Oliver Luxxe Assets LLC’s holdings in nVent Electric were worth $4,193,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NVT. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. UMB Bank n.a. boosted its position in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric in the third quarter valued at about $29,000. First Foundation Advisors acquired a new position in nVent Electric in the 2nd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of nVent Electric during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

NYSE:NVT traded up $0.83 during midday trading on Monday, reaching $71.48. The stock had a trading volume of 1,052,395 shares, compared to its average volume of 962,452. The stock has a market capitalization of $11.78 billion, a P/E ratio of 20.96, a PEG ratio of 3.86 and a beta of 1.27. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. 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 firm’s fifty day simple moving average is $73.88 and its 200-day simple moving average is $71.64.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric plc will post 2.5 EPS 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 given a dividend of $0.20 per share. The ex-dividend date is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is 23.46%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup boosted their price target on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 9th. KeyCorp increased their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Barclays increased their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $86.33.

Insiders Place Their Bets

In related news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 in the last ninety days. Insiders own 2.50% of the company’s stock.

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.