Seelaus Asset Management LLC Reduces Position in nVent Electric PLC (NYSE:NVT)

Key Points

• Seelaus Asset Management LLC sold 3,952 shares of nVent Electric PLC, reducing its holdings by 47.4% to 4,385 shares, valued at approximately $230,000.
• nVent Electric recently reported a quarterly revenue of $963.1 million, exceeding expectations and reflecting a 30.1% increase compared to the previous year.
• The company declared a $0.20 quarterly dividend, with an annualized yield of 0.9%, and maintains a payout ratio of 22.79%.

Seelaus Asset Management LLC trimmed its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 47.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,385 shares of the company's stock after selling 3,952 shares during the period. Seelaus Asset Management LLC's holdings in nVent Electric were worth $230,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVT. O Shaughnessy Asset Management LLC increased its position in shares of nVent Electric by 11.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,273 shares of the company's stock worth $223,000 after purchasing an additional 341 shares during the last quarter. Huntington National Bank boosted its stake in shares of nVent Electric by 60.9% during the fourth quarter. Huntington National Bank now owns 985 shares of the company's stock valued at $67,000 after purchasing an additional 373 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of nVent Electric by 28.0% during the fourth quarter. Russell Investments Group Ltd. now owns 111,092 shares of the company's stock valued at $7,572,000 after purchasing an additional 24,333 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of nVent Electric by 4.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after purchasing an additional 150 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of nVent Electric by 7.3% during the fourth quarter. Federated Hermes Inc. now owns 1,128,028 shares of the company's stock valued at $76,886,000 after purchasing an additional 76,909 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 17,853 shares of the stock in a transaction on 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Der Kolk Robert J. Van sold 10,993 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $89.14, for a total value of $979,916.02. Following the completion of the transaction, the insider owned 40,772 shares of the company's stock, valued at approximately $3,634,416.08. This trade represents a 21.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,246 shares of company stock valued at $17,115,842 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

nVent Electric Trading Down 0.1%

Shares of nVent Electric stock traded down $0.11 during midday trading on Friday, reaching $88.99. 891,336 shares of the company's stock traded hands, compared to its average volume of 2,208,171. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67. The company has a market cap of $14.32 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The stock has a 50 day moving average of $74.38 and a 200-day moving average of $64.64. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $91.55.

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

nVent Electric Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NVT shares. Wall Street Zen raised nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. KeyCorp increased their price objective on nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Roth Capital reissued a "buy" rating and set a $100.00 price objective (up previously from $89.00) on shares of nVent Electric in a research note on Monday. The Goldman Sachs Group increased their price objective on nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Citigroup upped their target price on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a report on Monday, July 14th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $87.00.

nVent Electric Company 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.