nVent Electric plc (NYSE:NVT) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its position in nVent Electric plc (NYSE:NVT - Free Report) by 10.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,492,055 shares of the company's stock after selling 182,390 shares during the quarter. Congress Asset Management Co. owned approximately 0.90% of nVent Electric worth $78,214,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC lifted its position in nVent Electric by 12.6% during the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock valued at $9,545,000 after acquiring an additional 15,685 shares during the last quarter. Haverford Trust Co increased its position in shares of nVent Electric by 0.8% during the fourth quarter. Haverford Trust Co now owns 553,146 shares of the company's stock worth $37,702,000 after purchasing an additional 4,538 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of nVent Electric by 15.3% during the 4th quarter. Vontobel Holding Ltd. now owns 577,781 shares of the company's stock valued at $39,382,000 after purchasing an additional 76,797 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of nVent Electric by 3.4% during the 4th quarter. HighTower Advisors LLC now owns 32,230 shares of the company's stock valued at $2,197,000 after purchasing an additional 1,052 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of nVent Electric by 20.7% in the 4th quarter. American Century Companies Inc. now owns 74,262 shares of the company's stock worth $5,062,000 after purchasing an additional 12,759 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Down 0.4%

Shares of NVT stock traded down $0.29 on Tuesday, hitting $68.03. The stock had a trading volume of 1,307,473 shares, compared to its average volume of 1,937,247. The company's 50 day moving average price is $58.83 and its 200-day moving average price is $63.64. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $82.05. The firm has a market capitalization of $11.20 billion, a P/E ratio of 34.71, a P/E/G ratio of 1.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly 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. The business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given 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 1.18%. nVent Electric's dividend payout ratio is currently 22.86%.

Insider Buying and Selling 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 transaction, the executive vice president now owns 32,665 shares of the company's stock, valued at $2,003,997.75. The trade was 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. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVT. CL King upgraded shares of 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. KeyCorp lifted their target price on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group reduced their price target on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada boosted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Citigroup reduced their price objective on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, nVent Electric currently has an average rating of "Buy" and a consensus price target of $70.67.

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.