Wellington Management Group LLP Sells 212,818 Shares of nVent Electric plc (NYSE:NVT)

Wellington Management Group LLP cut its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 65.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,570 shares of the company's stock after selling 212,818 shares during the quarter. Wellington Management Group LLP owned approximately 0.07% of nVent Electric worth $7,741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after buying an additional 616 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in shares of nVent Electric by 3.4% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 14,033 shares of the company's stock valued at $956,000 after buying an additional 467 shares in the last quarter. Calamos Advisors LLC raised its holdings in shares of nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock valued at $782,000 after purchasing an additional 176 shares during the last quarter. Hedeker Wealth LLC raised its holdings in shares of nVent Electric by 15.0% in the fourth quarter. Hedeker Wealth LLC now owns 20,946 shares of the company's stock valued at $1,428,000 after purchasing an additional 2,727 shares during the last quarter. Finally, Triasima Portfolio Management inc. purchased a new stake in shares of nVent Electric in the fourth quarter valued at about $383,000. 90.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVT shares. Barclays raised their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Citigroup cut their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, KeyCorp upped their price objective 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, nVent Electric has a consensus rating of "Buy" and an average price target of $70.00.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

nVent Electric Price Performance

Shares of NVT stock traded up $1.81 during trading hours on Friday, reaching $68.13. The stock had a trading volume of 1,473,244 shares, compared to its average volume of 1,936,593. The stock's fifty day simple moving average is $58.17 and its 200 day simple moving average is $63.85. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $82.05. The firm has a market capitalization of $11.22 billion, a PE ratio of 34.76, a PEG ratio of 1.48 and a beta of 1.30.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The company had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same period last year, the business earned $0.78 earnings per share. nVent Electric's revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.17%. nVent Electric's payout ratio is presently 22.86%.

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.