nVent Electric plc (NYSE:NVT) Shares Sold by Zimmer Partners LP

Zimmer Partners LP lowered its position in nVent Electric plc (NYSE:NVT - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,000 shares of the company's stock after selling 15,000 shares during the quarter. Zimmer Partners LP owned approximately 0.14% of nVent Electric worth $15,336,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVT. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the 4th quarter worth approximately $26,000. Raleigh Capital Management Inc. increased its stake in nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after buying an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares in the last quarter. Blue Trust Inc. boosted its position in shares of nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after purchasing an additional 616 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of nVent Electric during the 4th quarter worth $65,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

NVT has been the topic of several research analyst reports. The Goldman Sachs Group decreased their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research 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 report on Friday, March 21st. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Citigroup decreased their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, KeyCorp boosted their target price on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. 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, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $70.00.

nVent Electric Price Performance

Shares of nVent Electric stock traded up $0.51 on Friday, hitting $65.34. The company's stock had a trading volume of 1,257,107 shares, compared to its average volume of 1,941,379. nVent Electric plc has a 52-week low of $41.71 and a 52-week high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average price of $56.06 and a 200-day moving average price of $64.42. The company has a market capitalization of $10.76 billion, a P/E ratio of 33.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.

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, topping the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The business had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same period in the previous year, the firm earned $0.78 EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

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 issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. nVent Electric's dividend payout ratio (DPR) is 22.86%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company'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 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 is accessible through this link. 1.80% of the stock is owned by insiders.

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.