Custom Index Systems LLC Sells 2,602 Shares of nVent Electric plc (NYSE:NVT)

Custom Index Systems LLC decreased its holdings in nVent Electric plc (NYSE:NVTFree Report) by 16.4% in the fourth quarter, Holdings Channel reports. The firm owned 13,281 shares of the company’s stock after selling 2,602 shares during the quarter. Custom Index Systems LLC’s holdings in nVent Electric were worth $905,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in nVent Electric in the 4th quarter worth about $26,000. Larson Financial Group LLC boosted its holdings in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. grew its position in nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC bought a new stake in nVent Electric in the 3rd quarter worth approximately $29,000. Finally, Huntington National Bank raised its stake in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the topic of a number of research reports. Barclays raised their price target on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada raised their target price on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup reduced their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $86.17.

Read Our Latest Research Report on nVent Electric

Insider Transactions at nVent Electric

In other nVent Electric news, 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 completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric 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 sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was 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 valued at $7,365,956 over the last three months. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT opened at $65.16 on Friday. The business has a 50-day simple moving average of $72.23 and a two-hundred day simple moving average of $70.80. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.96 and a beta of 1.27.

nVent Electric (NYSE:NVTGet Free Report) last released its earnings results 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $0.20 dividend. The ex-dividend date is Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. nVent Electric’s dividend payout ratio is 23.46%.

About nVent Electric

(Free Report)

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.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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