Harbour Capital Advisors LLC Has $991,000 Position in nVent Electric plc (NYSE:NVT)

Harbour Capital Advisors LLC trimmed its stake in shares of nVent Electric plc (NYSE:NVT) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 14,025 shares of the company’s stock after selling 175 shares during the quarter. Harbour Capital Advisors LLC’s holdings in nVent Electric were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NVT. Federated Hermes Inc. lifted its position in nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after acquiring an additional 13,483 shares during the period. AQR Capital Management LLC grew its stake in shares of nVent Electric by 101.2% in the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock valued at $27,484,000 after acquiring an additional 180,488 shares in the last quarter. Finally, LVM Capital Management Ltd. MI increased its position in nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after acquiring an additional 11,349 shares during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

NYSE NVT traded down $0.11 on Monday, hitting $68.75. 586,534 shares of the company’s stock were exchanged, compared to its average volume of 1,063,988. The stock has a 50-day moving average of $73.55 and a 200-day moving average of $71.37. The stock has a market cap of $11.33 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 3.86 and a beta of 1.27. nVent Electric plc has a 52 week low of $55.19 and a 52 week high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

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

nVent Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. nVent Electric’s payout ratio is 23.46%.

Insider Buying and Selling

In other news, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 in the last three months. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NVT has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Barclays increased their price target on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada increased their target price on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $86.17.

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.