Ceredex Value Advisors LLC Purchases 270,100 Shares of nVent Electric plc (NYSE:NVT)

Ceredex Value Advisors LLC grew its position in shares of nVent Electric plc (NYSE:NVT) by 54.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 767,650 shares of the company’s stock after purchasing an additional 270,100 shares during the quarter. nVent Electric makes up about 1.1% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 27th largest position. Ceredex Value Advisors LLC owned 0.46% of nVent Electric worth $53,935,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of nVent Electric by 36.5% during the first quarter. Van ECK Associates Corp now owns 57,767 shares of the company’s stock worth $4,356,000 after acquiring an additional 15,450 shares in the last quarter. Private Advisor Group LLC raised its position in nVent Electric by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock worth $498,000 after purchasing an additional 382 shares during the period. Diversify Advisory Services LLC purchased a new stake in nVent Electric during the first quarter valued at about $464,000. BNP Paribas Financial Markets grew its stake in shares of nVent Electric by 3.2% during the first quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company’s stock valued at $5,025,000 after buying an additional 2,064 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of nVent Electric by 92.7% during the first quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock valued at $1,423,000 after buying an additional 9,081 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Price Performance

Shares of NVT stock opened at $68.44 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. nVent Electric plc has a fifty-two week low of $49.05 and a fifty-two week high of $86.57. The firm has a market cap of $11.38 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.52 and a beta of 1.27. The business’s 50 day moving average price is $69.47 and its 200-day moving average price is $73.12.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. On average, equities research analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is currently 22.22%.

Insiders Place Their Bets

In other news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays lowered their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. KeyCorp increased their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $85.67.

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.