Diversified Trust Co. Lowers Position in nVent Electric PLC $NVT

Diversified Trust Co. decreased its stake in shares of nVent Electric PLC (NYSE:NVT) by 67.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,837 shares of the company’s stock after selling 7,898 shares during the quarter. Diversified Trust Co.’s holdings in nVent Electric were worth $391,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. TABR Capital Management LLC purchased a new stake in nVent Electric in the 4th quarter worth $3,284,000. Continuum Advisory LLC bought a new position in shares of nVent Electric during the 3rd quarter valued at about $1,630,000. Nordea Investment Management AB grew its position in shares of nVent Electric by 10.0% during the third quarter. Nordea Investment Management AB now owns 129,655 shares of the company’s stock valued at $12,671,000 after purchasing an additional 11,804 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of nVent Electric by 51.0% during the third quarter. Pacer Advisors Inc. now owns 30,535 shares of the company’s stock valued at $3,012,000 after purchasing an additional 10,307 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of nVent Electric by 173.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 52,856 shares of the company’s stock worth $5,214,000 after purchasing an additional 33,549 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In related news, CEO Beth Wozniak sold 7,597 shares of nVent Electric stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total transaction of $884,822.59. Following the completion of the transaction, the chief executive officer directly owned 52,990 shares of the company’s stock, valued at approximately $6,171,745.30. The trade was a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 5,244 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $112.27, for a total transaction of $588,743.88. Following the transaction, the director owned 46,371 shares in the company, valued at $5,206,072.17. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,841 shares of company stock worth $2,046,166 over the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVT. Weiss Ratings upgraded nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Barclays upped their price objective on nVent Electric from $140.00 to $141.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Citigroup raised their target price on shares of nVent Electric from $131.00 to $133.00 and gave the company a “buy” rating in a report on Monday, February 9th. Zacks Research cut shares of nVent Electric from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Wolfe Research raised shares of nVent Electric to an “outperform” rating in a research note on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, nVent Electric presently has an average rating of “Moderate Buy” and an average price target of $138.50.

nVent Electric Trading Down 1.3%

Shares of NYSE NVT opened at $116.95 on Friday. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $129.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16. The business’s 50 day moving average is $114.87 and its two-hundred day moving average is $107.23. The stock has a market capitalization of $18.91 billion, a P/E ratio of 27.20, a PEG ratio of 1.22 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. As a group, research analysts expect that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, April 24th. nVent Electric’s payout ratio is presently 19.53%.

nVent Electric Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.