nVent Electric PLC (NYSE:NVT) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its position in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,424 shares of the company's stock after selling 7,985 shares during the quarter. Cetera Investment Advisers' holdings in nVent Electric were worth $2,276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Capital A Wealth Management LLC purchased a new position in nVent Electric during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC raised its stake 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 buying an additional 500 shares during the period. Hughes Financial Services LLC purchased a new position in shares of nVent Electric during the 1st quarter valued at approximately $36,000. Park Square Financial Group LLC purchased a new position in shares of nVent Electric during the 4th quarter valued at approximately $38,000. Finally, First Horizon Advisors Inc. grew its stake in nVent Electric by 58.0% in the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock valued at $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

In related news, EVP Jon D. Lammers sold 119,694 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $89.48, for a total transaction of $10,710,219.12. Following the completion of the sale, the executive vice president directly owned 70,817 shares in the company, valued at approximately $6,336,705.16. This trade represents a 62.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara E. Zawoyski sold 22,109 shares of nVent Electric stock in a transaction dated 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 transaction, the insider directly owned 66,640 shares in the company, valued at $5,966,945.60. This trade represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,246 shares of company stock worth $17,115,842 over the last quarter. Corporate insiders own 1.80% of the company's stock.

nVent Electric Stock Performance

NVT opened at $89.01 on Friday. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $91.55. The firm has a market capitalization of $14.33 billion, a PE ratio of 25.36, a PEG ratio of 1.55 and a beta of 1.35. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average price is $74.38 and its 200 day moving average price is $64.64.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. The business had revenue of $963.10 million for the quarter, compared to analyst estimates of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The business's revenue was up 30.1% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. As a group, sell-side analysts expect that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of research analyst reports. KeyCorp upped their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada reissued an "outperform" rating and set a $102.00 target price (up previously from $85.00) on shares of nVent Electric in a research note on Monday. Roth Capital reaffirmed a "buy" rating and issued a $100.00 price target (up from $89.00) on shares of nVent Electric in a research note on Monday. Citigroup lifted their price objective on nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Barclays reissued an "overweight" rating on shares of nVent Electric in a 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.

Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.