nVent Electric PLC (NYSE:NVT) Stake Reduced by Bearing Point Capital LLC

Key Points

• Bearing Point Capital LLC reduced its holdings in nVent Electric PLC by 32.5%, owning 42,870 shares valued at $2.25 million after selling 20,652 shares in the first quarter.
• nVent Electric reported a quarterly earnings per share (EPS) of $0.67, exceeding analyst expectations of $0.66, along with a 10.5% year-over-year revenue increase to $809.30 million.
• The company announced a quarterly dividend of $0.20 per share, translating to an annualized dividend of $0.80 and a yield of 1.02%, with a payout ratio of 22.86%.

Bearing Point Capital LLC decreased its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 32.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,870 shares of the company's stock after selling 20,652 shares during the quarter. Bearing Point Capital LLC's holdings in nVent Electric were worth $2,247,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NVT. Capital A Wealth Management LLC purchased a new position in nVent Electric in the fourth quarter worth $27,000. Whipplewood Advisors LLC grew its holdings in nVent Electric by 467.3% in the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in nVent Electric in the first quarter valued at $36,000. Park Square Financial Group LLC acquired a new stake in nVent Electric in the fourth quarter valued at $38,000. Finally, First Horizon Advisors Inc. grew its holdings in nVent Electric by 58.0% in the first quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock valued at $43,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the sale, the executive vice president directly owned 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

nVent Electric Trading Down 0.0%

Shares of NYSE NVT traded down $0.03 during midday trading on Wednesday, hitting $79.69. The stock had a trading volume of 1,264,384 shares, compared to its average volume of 2,151,686. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.57 and a beta of 1.31. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $81.20. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $71.44 and a 200 day moving average price of $63.83.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The company's revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. On average, analysts predict 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 will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. nVent Electric's payout ratio is currently 22.86%.

Analyst Ratings Changes

A number of research firms recently commented on NVT. Royal Bank Of Canada increased their price objective on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Wall Street Zen raised nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. KeyCorp increased their price objective on nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Barclays increased their price objective on nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, Citigroup increased their price objective on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $81.57.

About nVent Electric

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.