Victory Capital Management Inc. Decreases Holdings in nVent Electric plc (NYSE:NVT)

Victory Capital Management Inc. lowered its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 61.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,932 shares of the company's stock after selling 55,724 shares during the quarter. Victory Capital Management Inc.'s holdings in nVent Electric were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of nVent Electric by 9.3% during the third quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company's stock worth $825,000 after buying an additional 1,325 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of nVent Electric by 3.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company's stock worth $472,000 after acquiring an additional 307 shares during the period. Fifth Third Bancorp raised its stake in shares of nVent Electric by 33.4% during the 3rd quarter. Fifth Third Bancorp now owns 1,548 shares of the company's stock worth $82,000 after buying an additional 388 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of nVent Electric by 26.5% in the third quarter. Nisa Investment Advisors LLC now owns 30,233 shares of the company's stock valued at $1,602,000 after buying an additional 6,341 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in nVent Electric by 2.7% in the third quarter. California Public Employees Retirement System now owns 348,375 shares of the company's stock valued at $18,460,000 after acquiring an additional 9,184 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NVT. Royal Bank of Canada reduced their target price on nVent Electric from $89.00 to $88.00 and set an "outperform" rating on the stock in a research note on Monday, May 6th. The Goldman Sachs Group increased their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a "buy" rating and a $83.00 target price on the stock. Barclays boosted their price target on shares of nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Finally, Citigroup raised their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a "buy" rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, nVent Electric presently has an average rating of "Moderate Buy" and a consensus target price of $87.00.

Insider Buying and Selling

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is currently owned by company insiders.

nVent Electric Trading Down 0.5 %

Shares of NVT traded down $0.40 during mid-day trading on Friday, reaching $80.01. 1,627,649 shares of the company were exchanged, compared to its average volume of 1,830,962. nVent Electric plc has a 52 week low of $40.44 and a 52 week high of $84.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The business has a 50 day simple moving average of $74.90 and a two-hundred day simple moving average of $64.08. The stock has a market capitalization of $13.28 billion, a PE ratio of 23.33, a PEG ratio of 1.80 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same period last year, the company posted $0.67 EPS. The business's quarterly revenue was up 18.0% on a year-over-year basis. On average, analysts predict that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.95%. nVent Electric's payout ratio is 22.16%.

About nVent Electric

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.