Nuveen Asset Management LLC Decreases Stake in nVent Electric plc (NYSE:NVT)

Nuveen Asset Management LLC reduced its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,778,895 shares of the company's stock after selling 401,731 shares during the period. Nuveen Asset Management LLC owned approximately 2.29% of nVent Electric worth $257,569,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of nVent Electric by 4.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after purchasing an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after buying an additional 162 shares during the period. Calamos Advisors LLC raised its position in nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after buying an additional 176 shares during the last quarter. Utah Retirement Systems lifted its stake in nVent Electric by 2.3% during the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after acquiring an additional 200 shares during the period. Finally, Hancock Whitney Corp boosted its holdings in shares of nVent Electric by 1.4% in the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after acquiring an additional 206 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction that occurred 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 directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVT. 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 report on Monday, March 17th. Royal Bank of Canada raised their price target on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. KeyCorp lifted their price objective on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays boosted their price target on nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, nVent Electric has an average rating of "Buy" and an average target price of $70.00.

nVent Electric Trading Down 0.9%

NYSE:NVT traded down $0.56 during trading hours on Wednesday, hitting $65.55. The company had a trading volume of 292,181 shares, compared to its average volume of 2,333,377. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. The company has a market cap of $10.79 billion, a P/E ratio of 33.46, a P/E/G ratio of 1.48 and a beta of 1.24. The company has a 50-day moving average of $55.56 and a 200 day moving average of $64.56. 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 (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. nVent Electric's revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. Sell-side analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm 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 $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 is currently 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.