nVent Electric plc (NYSE:NVT) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its stake in shares of nVent Electric plc (NYSE:NVT) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,399 shares of the company’s stock after acquiring an additional 453 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in nVent Electric were worth $450,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of 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. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric during the 3rd quarter worth approximately $29,000. ORG Partners LLC purchased a new position in shares of nVent Electric during the 2nd quarter worth approximately $31,000. First Foundation Advisors purchased a new position in shares of nVent Electric during the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of nVent Electric during the 2nd quarter worth approximately $34,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at nVent Electric

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

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $74.27 on Thursday. The firm has a market cap of $12.24 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26. The firm’s 50-day simple moving average is $71.90 and its 200-day simple moving average is $73.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company 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%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. Equities analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

nVent Electric 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.