nVent Electric PLC (NYSE:NVT) Shares Sold by Norden Group LLC

Norden Group LLC trimmed its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 35.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,893 shares of the company's stock after selling 7,712 shares during the period. Norden Group LLC's holdings in nVent Electric were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric during the 4th quarter worth $27,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric during the 4th quarter worth $38,000. Whipplewood Advisors LLC raised its holdings in shares of nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after acquiring an additional 500 shares during the period. Hughes Financial Services LLC purchased a new position in shares of nVent Electric during the 1st quarter worth $36,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of nVent Electric by 58.0% during the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock worth $43,000 after acquiring an additional 300 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president owned 32,665 shares in the company, valued at $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. KeyCorp boosted their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Roth Capital assumed coverage on shares of nVent Electric in a report on Wednesday, July 23rd. They issued a "buy" rating and a $89.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group upped their price target on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $81.57.

nVent Electric Stock Up 14.4%

nVent Electric stock traded up $11.27 during mid-day trading on Friday, hitting $89.69. The company had a trading volume of 6,166,288 shares, compared to its average volume of 2,200,875. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.56 and a beta of 1.31. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $89.91. The business has a fifty day moving average of $72.01 and a 200 day moving average of $64.00. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. nVent Electric's revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, sell-side analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Saturday, January 1st will be given a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. nVent Electric's dividend payout ratio (DPR) is currently 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.