OneAscent Wealth Management LLC Has $582,000 Stock Position in nVent Electric plc (NYSE:NVT)

OneAscent Wealth Management LLC trimmed its position in nVent Electric plc (NYSE:NVT) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,283 shares of the company’s stock after selling 453 shares during the quarter. OneAscent Wealth Management LLC’s holdings in nVent Electric were worth $582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after purchasing an additional 155 shares during the period. CIBC Asset Management Inc grew its position in shares of nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after buying an additional 166 shares during the period. Huntington National Bank grew its position in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after buying an additional 272 shares during the period. Finally, Anchor Investment Management LLC grew its position in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at nVent Electric

In other news, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,824 shares of company stock worth $6,841,316. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVT. KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.33.

nVent Electric Stock Up 0.1 %

Shares of NVT traded up $0.07 on Monday, hitting $72.89. The company’s stock had a trading volume of 54,929 shares, compared to its average volume of 1,575,179. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm’s fifty day moving average price is $71.40 and its 200-day moving average price is $73.24. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, equities research analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

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.