Vaughan Nelson Investment Management L.P. Lowers Stock Position in nVent Electric PLC (NYSE:NVT)

Vaughan Nelson Investment Management L.P. cut its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 82.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,460 shares of the company's stock after selling 159,362 shares during the quarter. Vaughan Nelson Investment Management L.P.'s holdings in nVent Electric were worth $1,754,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NVT. Wealth Enhancement Advisory Services LLC increased its position in shares of nVent Electric by 11.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 37,612 shares of the company's stock valued at $1,972,000 after buying an additional 3,880 shares during the period. Krilogy Financial LLC purchased a new stake in shares of nVent Electric during the first quarter valued at $2,550,000. Fifth Third Bancorp grew its stake in shares of nVent Electric by 41.4% in the first quarter. Fifth Third Bancorp now owns 2,811 shares of the company's stock worth $147,000 after acquiring an additional 823 shares during the period. CX Institutional purchased a new stake in nVent Electric during the 1st quarter valued at $54,000. Finally, Handelsbanken Fonder AB lifted its holdings in nVent Electric by 25.1% in the first quarter. Handelsbanken Fonder AB now owns 545,354 shares of the company's stock valued at $28,587,000 after acquiring an additional 109,430 shares during the period. 90.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now owns 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company's stock.

nVent Electric Trading Down 0.8%

NYSE:NVT traded down $0.55 during midday trading on Tuesday, hitting $69.86. The stock had a trading volume of 1,609,772 shares, compared to its average volume of 1,942,979. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.55. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.41 and a beta of 1.30. The stock has a 50-day moving average of $60.75 and a 200 day moving average of $63.31. 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 issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. nVent Electric's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. As a group, sell-side analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.15%. nVent Electric's dividend payout ratio (DPR) is 22.86%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVT shares. The Goldman Sachs Group cut their price target on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank Of Canada lifted their price objective on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. KeyCorp increased their price target on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, nVent Electric has an average rating of "Buy" and an average target price of $70.67.

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.