nVent Electric PLC $NVT Stock Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust cut its nVent Electric stake by 63.9% in the third quarter, selling 9,905 shares and retaining 5,594 shares valued at approximately $897,000. Institutional investors collectively own 90.05% of the company.
• nVent insiders sold 74,644 shares worth about $12.3 million over the past 90 days, including substantial sales by the CEO and chief accounting officer.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $200.81. nVent also reported quarterly EPS and revenue above estimates and declared a quarterly dividend of $0.21 per share.

First Citizens Bank & Trust Co. decreased its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 63.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,594 shares of the company's stock after selling 9,905 shares during the period. First Citizens Bank & Trust Co.'s holdings in nVent Electric were worth $897,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NVT. Sequoia Financial Advisors LLC raised its stake in shares of nVent Electric by 16.8% during the second quarter. Sequoia Financial Advisors LLC now owns 76,540 shares of the company's stock worth $12,982,000 after purchasing an additional 11,033 shares during the last quarter. State Street Corp lifted its holdings in shares of nVent Electric by 4.9% during the second quarter. State Street Corp now owns 5,313,122 shares of the company's stock worth $901,159,000 after purchasing an additional 250,248 shares during the period. Alua Capital Management LP acquired a new stake in shares of nVent Electric during the first quarter worth $27,394,000. Engineers Gate Manager LP grew its position in nVent Electric by 327.1% in the 2nd quarter. Engineers Gate Manager LP now owns 33,538 shares of the company's stock valued at $5,688,000 after buying an additional 25,686 shares during the last quarter. Finally, Corient Private Wealth LP grew its position in nVent Electric by 96.0% in the 2nd quarter. Corient Private Wealth LP now owns 36,357 shares of the company's stock valued at $6,167,000 after buying an additional 17,806 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Transactions at nVent Electric

In related news, CEO Beth Wozniak sold 46,261 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $164.42, for a total value of $7,606,233.62. Following the sale, the chief executive officer directly owned 55,612 shares in the company, valued at $9,143,725.04. The trade was a 45.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Randolph A. Wacker sold 22,525 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $164.62, for a total transaction of $3,708,065.50. Following the completion of the sale, the chief accounting officer directly owned 27,441 shares in the company, valued at approximately $4,517,337.42. The trade was a 45.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 74,644 shares of company stock valued at $12,276,886 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Clear Str upgraded shares of nVent Electric to a "strong-buy" rating in a research report on Monday, July 13th. Zacks Research downgraded shares of nVent Electric from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $200.00 price target on shares of nVent Electric in a research note on Saturday, August 1st. BMO Capital Markets assumed coverage on shares of nVent Electric in a report on Sunday, October 4th. They set an "outperform" rating and a $212.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on shares of nVent Electric in a report on Thursday, September 24th. They set an "equal weight" rating and a $182.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, nVent Electric has a consensus rating of "Buy" and an average price target of $200.81.

nVent Electric Stock Performance

NYSE:NVT opened at $142.11 on Friday. The firm's fifty day simple moving average is $158.96 and its 200-day simple moving average is $156.24. nVent Electric PLC has a fifty-two week low of $93.22 and a fifty-two week high of $184.64. The company has a quick ratio of 1.33, a current ratio of 1.80 and a debt-to-equity ratio of 0.37. The stock has a market cap of $23.00 billion, a PE ratio of 38.83, a price-to-earnings-growth ratio of 0.79 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.16 by $0.29. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.26 billion. nVent Electric had a return on equity of 18.85% and a net margin of 12.38%. The company's quarterly revenue was up 52.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. nVent Electric has set its Q3 2026 guidance at 1.350-1.380 EPS and its FY 2026 guidance at 5.000-5.100 EPS. Analysts expect that nVent Electric PLC will post 5.13 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 23rd will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 23rd. nVent Electric's payout ratio is 22.95%.

About nVent Electric

nVent Electric plc is a global provider of electrical connection and protection solutions. The company designs and manufactures products that help protect, connect and manage electrical, electronic and critical infrastructure systems in industrial, commercial, data center, energy, transportation and other applications.

Its portfolio includes electrical and electronic enclosures, cable management systems, fastening and support products, grounding and bonding solutions, busbar and power distribution equipment, surge protection products, and thermal management systems.

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