BNP Paribas Financial Markets Lowers Stock Holdings in nVent Electric plc (NYSE:NVT)

BNP Paribas Financial Markets lessened its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,254 shares of the company's stock after selling 13,115 shares during the quarter. BNP Paribas Financial Markets' holdings in nVent Electric were worth $4,107,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVT. Aptus Capital Advisors LLC increased its holdings in nVent Electric by 20.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 74,244 shares of the company's stock worth $5,060,000 after purchasing an additional 12,812 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of nVent Electric in the 4th quarter valued at approximately $88,000. Gallo Partners LP purchased a new position in nVent Electric during the fourth quarter worth $2,993,000. Utah Retirement Systems grew its position in shares of nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after purchasing an additional 200 shares during the period. Finally, Lido Advisors LLC boosted its holdings in nVent Electric by 3.2% in the fourth quarter. Lido Advisors LLC now owns 156,005 shares of the company's stock valued at $10,633,000 after acquiring an additional 4,817 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on NVT. Citigroup lowered their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Barclays raised their target price on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Royal Bank of Canada raised their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, KeyCorp lifted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $70.00.

nVent Electric Price Performance

Shares of NVT traded up $0.19 during trading hours on Tuesday, reaching $66.75. The stock had a trading volume of 49,658 shares, compared to its average volume of 1,930,658. The stock has a market capitalization of $10.99 billion, a PE ratio of 34.05, a PEG ratio of 1.48 and a beta of 1.24. 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 plc has a 12 month low of $41.71 and a 12 month high of $86.57. The company's 50-day moving average is $55.32 and its two-hundred day moving average is $64.55.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same quarter in the previous year, the business earned $0.78 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. Research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. nVent Electric's payout ratio is 22.86%.

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.