Montag A & Associates Inc. Sells 23,650 Shares of nVent Electric PLC (NYSE:NVT)

Montag A & Associates Inc. reduced its position in nVent Electric PLC (NYSE:NVT - Free Report) by 90.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,532 shares of the company's stock after selling 23,650 shares during the quarter. Montag A & Associates Inc.'s holdings in nVent Electric were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Virtu Financial LLC bought a new stake in nVent Electric in the 4th quarter valued at $379,000. American Century Companies Inc. increased its holdings in nVent Electric by 20.7% in the 4th quarter. American Century Companies Inc. now owns 74,262 shares of the company's stock valued at $5,062,000 after acquiring an additional 12,759 shares during the last quarter. Sei Investments Co. increased its holdings in nVent Electric by 53.7% in the 4th quarter. Sei Investments Co. now owns 170,899 shares of the company's stock valued at $11,649,000 after acquiring an additional 59,684 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in nVent Electric in the 4th quarter valued at $2,283,000. Finally, Optimum Investment Advisors bought a new stake in nVent Electric in the 4th quarter valued at $115,000. 90.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on NVT shares. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Barclays increased their price objective on shares of nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada increased their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. KeyCorp increased their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Roth Capital began coverage on shares of nVent Electric in a research report on Wednesday. They set a "buy" rating and a $89.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, nVent Electric has a consensus rating of "Buy" and an average target price of $81.57.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president owned 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 SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

nVent Electric Trading Up 0.9%

Shares of NVT traded up $0.68 during midday trading on Thursday, hitting $77.31. The stock had a trading volume of 710,826 shares, compared to its average volume of 2,155,741. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $81.20. The firm has a market cap of $12.73 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The stock's 50 day moving average is $70.50 and its 200 day moving average is $63.64.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results 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. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The business had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts forecast that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is presently 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.