nVent Electric plc (NYSE:NVT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 14.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 989,329 shares of the company's stock after selling 163,684 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.60% of nVent Electric worth $67,433,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock worth $6,378,000 after purchasing an additional 13,483 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of nVent Electric in the 4th quarter valued at about $1,520,000. TT International Asset Management LTD lifted its holdings in shares of nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after acquiring an additional 18,376 shares during the last quarter. LVM Capital Management Ltd. MI grew its position in nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company's stock worth $10,307,000 after acquiring an additional 11,349 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in nVent Electric by 12.4% during the fourth quarter. Pacer Advisors Inc. now owns 55,790 shares of the company's stock valued at $3,803,000 after purchasing an additional 6,175 shares during the period. 90.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVT. The Goldman Sachs Group cut their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citigroup cut their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Barclays lifted their target price on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $70.00.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

nVent Electric Stock Up 2.4%

Shares of nVent Electric stock traded up $1.62 during trading hours on Tuesday, reaching $68.16. 4,026,628 shares of the company were exchanged, compared to its average volume of 1,930,610. The firm has a market cap of $11.22 billion, a PE ratio of 34.78, a PEG ratio of 1.48 and a beta of 1.24. The stock's fifty day moving average is $54.07 and its 200 day moving average is $64.76. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. 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 (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same period in the previous year, the firm posted $0.78 EPS. nVent Electric's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is 22.86%.

nVent Electric Company 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.