Natixis Advisors LLC Sells 18,847 Shares of nVent Electric PLC (NYSE:NVT)

Key Points

• Natixis Advisors LLC sold 18,847 shares of nVent Electric PLC, reducing its stake by 18.0% to approximately 85,964 shares worth $4.5 million.
• In recent analyst updates, several firms upgraded their ratings for nVent Electric, with KeyCorp raising their target price from $78.00 to $84.00 and Citigroup increasing theirs from $69.00 to $86.00.
• nVent Electric reported a 30.1% year-over-year revenue increase of $963.10 million for the last quarter, surpassing analysts' estimates.

Natixis Advisors LLC reduced its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 18.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,964 shares of the company's stock after selling 18,847 shares during the quarter. Natixis Advisors LLC owned approximately 0.05% of nVent Electric worth $4,506,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Quadrant Capital Group LLC increased its stake in shares of nVent Electric by 4.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after buying an additional 150 shares in the last quarter. Utah Retirement Systems grew its holdings in nVent Electric by 2.3% during the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after acquiring an additional 200 shares during the last quarter. Hancock Whitney Corp increased its position in nVent Electric by 1.4% in the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after acquiring an additional 206 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of nVent Electric by 3.2% in the first quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock worth $375,000 after acquiring an additional 219 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of nVent Electric by 15.6% during the first quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock worth $89,000 after purchasing an additional 230 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Down 1.4%

Shares of NYSE:NVT traded down $1.23 during midday trading on Thursday, hitting $89.01. The company had a trading volume of 2,491,911 shares, compared to its average volume of 2,473,342. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $91.55. The firm has a fifty day simple moving average of $74.38 and a 200 day simple moving average of $64.64. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 1.55 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. The firm had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%. The company's revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. On average, analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Saturday, January 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, July 18th. nVent Electric's dividend payout ratio is presently 22.79%.

Insider Transactions at nVent Electric

In related news, insider Sara E. Zawoyski sold 22,109 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the sale, the insider owned 66,640 shares of the company's stock, valued at approximately $5,966,945.60. This trade represents a 24.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lynnette R. Heath sold 17,853 shares of nVent Electric stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $89.33, for a total value of $1,594,808.49. Following the transaction, the executive vice president owned 30,512 shares in the company, valued at approximately $2,725,636.96. This represents a 36.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,246 shares of company stock valued at $17,115,842. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVT. Barclays reissued an "overweight" rating on shares of nVent Electric in a report on Monday. Citigroup lifted their target price on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wall Street Zen upgraded nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Roth Capital reiterated a "buy" rating and issued a $100.00 price target (up previously from $89.00) on shares of nVent Electric in a report on Monday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $102.00 price objective (up from $85.00) on shares of nVent Electric in a research report on Monday. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, nVent Electric presently has an average rating of "Buy" and an average price target of $87.00.

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.