Schroder Investment Management Group Sells 6,068 Shares of nVent Electric plc (NYSE:NVT)

by · The Markets Daily

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Schroder Investment Management Group reduced its position in nVent Electric plc (NYSE:NVT – Free Report) by 42.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,358 shares of the company’s stock after selling 6,068 shares during the quarter. Schroder Investment Management Group’s holdings in nVent Electric were worth $432,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in nVent Electric by 9.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock worth $383,000 after acquiring an additional 923 shares in the last quarter. AlphaCrest Capital Management LLC raised its holdings in nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock worth $400,000 after buying an additional 3,093 shares during the last quarter. Natixis Advisors L.P. raised its holdings in nVent Electric by 15.4% during the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock worth $1,514,000 after buying an additional 5,807 shares during the last quarter. Bank of Montreal Can raised its holdings in nVent Electric by 10.6% during the first quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock worth $768,000 after buying an additional 2,072 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock worth $2,144,000 after buying an additional 5,879 shares during the last quarter. 87.76% of the stock is owned by institutional investors.

nVent Electric Price Performance

NVT opened at $54.55 on Tuesday. The firm has a market cap of $9.05 billion, a P/E ratio of 19.48 and a beta of 1.32. The firm has a 50-day moving average of $51.45 and a 200 day moving average of $51.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.27 and a current ratio of 1.97. nVent Electric plc has a fifty-two week low of $36.70 and a fifty-two week high of $58.98.

nVent Electric (NYSE:NVT – Get Free Report) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.11. The company had revenue of $859.00 million during the quarter, compared to analyst estimates of $881.99 million. nVent Electric had a net margin of 14.98% and a return on equity of 17.44%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, research analysts expect that nVent Electric plc will post 3.02 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Friday, October 20th were given a dividend of $0.175 per share. The ex-dividend date was Thursday, October 19th. This represents a $0.70 dividend on an annualized basis and a yield of 1.28%. nVent Electric’s dividend payout ratio is presently 25.00%.

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 2,080 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $53.07, for a total transaction of $110,385.60. Following the completion of the transaction, the insider now owns 27,613 shares in the company, valued at $1,465,421.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVT. Royal Bank of Canada lowered their price objective on shares of nVent Electric from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Seaport Res Ptn reiterated a “neutral” rating on shares of nVent Electric in a report on Monday, August 7th. Citigroup started coverage on shares of nVent Electric in a report on Tuesday, October 3rd. They issued a “buy” rating and a $62.00 target price for the company. Finally, Barclays lowered their target price on shares of nVent Electric from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, October 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.50.

Check Out Our Latest Stock Report on nVent Electric

nVent Electric Company Profile

(Free Report)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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