Securian Asset Management Inc. Has $1.01 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

Securian Asset Management Inc. trimmed its stake in shares of nVent Electric plc (NYSE:NVT) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,241 shares of the company’s stock after selling 403 shares during the quarter. Securian Asset Management Inc.’s holdings in nVent Electric were worth $1,014,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in nVent Electric during the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in nVent Electric in the 4th quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in nVent Electric in the 1st quarter valued at approximately $32,000. Smithfield Trust Co increased its position in nVent Electric by 650.0% in the 4th quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after acquiring an additional 546 shares during the period. Finally, Versant Capital Management Inc increased its position in nVent Electric by 494.3% in the 2nd quarter. Versant Capital Management Inc now owns 523 shares of the company’s stock valued at $40,000 after acquiring an additional 435 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NVT shares. Royal Bank of Canada decreased their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Citigroup upped their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. The Goldman Sachs Group upped their price target on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Barclays upped their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $87.80.

nVent Electric Stock Down 0.4 %

NVT stock traded down $0.26 during midday trading on Monday, reaching $63.46. 1,508,689 shares of the company’s stock traded hands, compared to its average volume of 1,505,248. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average price is $74.87 and its 200-day moving average price is $73.09. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.52 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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). nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. During the same quarter in the previous year, the company posted $0.77 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.20%. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity

In related news, EVP Lynnette R. Heath sold 8,242 shares of the 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 owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.50% of the stock is currently owned by corporate insiders.

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.