Vaughan Nelson Investment Management L.P. Sells 159,362 Shares of nVent Electric PLC (NYSE:NVT)

Vaughan Nelson Investment Management L.P. reduced its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 82.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors acquired a new stake in nVent Electric in the 4th quarter worth about $384,749,000. Norges Bank acquired a new stake in shares of nVent Electric in the fourth quarter worth approximately $197,434,000. William Blair Investment Management LLC grew its holdings in nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after purchasing an additional 210,690 shares during the period. Millennium Management LLC increased its position in nVent Electric by 743.7% during the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after purchasing an additional 1,953,026 shares during the last quarter. Finally, Invesco Ltd. raised its stake in nVent Electric by 15.0% during the fourth quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock worth $117,499,000 after purchasing an additional 224,657 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of analyst reports. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a report on Monday, March 17th. KeyCorp upped their target price on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Royal Bank Of Canada lifted their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Barclays lifted their target price on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $70.67.

nVent Electric Stock Performance

Shares of NVT traded up $0.72 during mid-day trading on Thursday, hitting $70.55. The company's stock had a trading volume of 1,269,181 shares, compared to its average volume of 1,944,723. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.55. The stock's 50-day moving average is $61.48 and its two-hundred day moving average is $63.40. The firm has a market capitalization of $11.62 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.40 and a beta of 1.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, sell-side analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is presently 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.