Commerce Bank Grows Stock Position in nVent Electric plc (NYSE:NVT)

Commerce Bank lifted its holdings in shares of nVent Electric plc (NYSE:NVT) by 1.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 834,042 shares of the company’s stock after acquiring an additional 12,302 shares during the period. Commerce Bank owned approximately 0.51% of nVent Electric worth $58,600,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. ORG Partners LLC purchased a new stake in nVent Electric during the 2nd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in nVent Electric during the 3rd quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares during the period. First Foundation Advisors purchased a new stake in shares of nVent Electric in the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of nVent Electric in the second quarter worth $34,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,824 shares of company stock worth $6,841,316 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $75.52 on Wednesday. The firm has a market cap of $12.45 billion, a PE ratio of 22.15, a P/E/G ratio of 3.75 and a beta of 1.26. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. 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 business has a 50-day moving average price of $71.63 and a 200 day moving average price of $73.26.

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

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is 22.29%.

Analysts Set New Price Targets

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

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.