First Manhattan CO. LLC. Has $2.09 Million Stake in nVent Electric plc (NYSE:NVT)

First Manhattan CO. LLC. trimmed its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,711 shares of the company's stock after selling 6,100 shares during the quarter. First Manhattan CO. LLC.'s holdings in nVent Electric were worth $2,093,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NVT. Crews Bank & Trust bought a new stake in nVent Electric in the 4th quarter valued at about $26,000. Tsfg LLC purchased a new position in shares of nVent Electric in the fourth quarter worth approximately $51,000. Raleigh Capital Management Inc. increased its position in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after acquiring an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after acquiring an additional 162 shares in the last quarter. Finally, Blue Trust Inc. grew its position in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business'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 of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

nVent Electric Stock Up 2.4%

NVT traded up $1.62 during trading on Tuesday, reaching $68.16. The company had a trading volume of 4,026,628 shares, compared to its average volume of 1,930,611. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The business's fifty day moving average price is $54.32 and its 200 day moving average price is $64.78. The company has a market cap of $11.22 billion, a P/E ratio of 34.78, a PEG ratio of 1.48 and a beta of 1.24.

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

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. nVent Electric's payout ratio is 22.86%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVT. Citigroup decreased their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group cut their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. KeyCorp increased their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Barclays increased their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note 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 on the stock in a research note on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $70.00.

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.