OneAscent Financial Services LLC Has $590,000 Stock Holdings in nVent Electric plc (NYSE:NVT)

OneAscent Financial Services LLC trimmed its stake in shares of nVent Electric plc (NYSE:NVT) by 33.4% in the third quarter, Holdings Channel.com reports. The firm owned 8,397 shares of the company’s stock after selling 4,205 shares during the quarter. OneAscent Financial Services LLC’s holdings in nVent Electric were worth $590,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVT. Swedbank AB acquired a new position in nVent Electric during the 3rd quarter worth approximately $110,663,000. Millennium Management LLC increased its position in nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after purchasing an additional 828,425 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after acquiring an additional 673,990 shares during the last quarter. HM Payson & Co. grew its holdings in nVent Electric by 109,496.5% during the 3rd quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock worth $30,801,000 after acquiring an additional 437,986 shares during the last quarter. Finally, DigitalBridge Group Inc. bought a new stake in nVent Electric during the 2nd quarter worth approximately $21,291,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVT has been the topic of a number of research reports. KeyCorp boosted their target price 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. Barclays reduced their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $85.33.

Insider Buying and Selling

In related news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,824 shares of company stock valued at $6,841,316 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

nVent Electric Trading Up 0.8 %

NYSE:NVT opened at $73.39 on Tuesday. The firm’s fifty day moving average is $71.40 and its 200-day moving average is $73.24. 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 52 week low of $52.26 and a 52 week high of $86.57. The firm has a market cap of $12.10 billion, a P/E ratio of 21.52, a P/E/G ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.04%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.29%.

nVent Electric Company 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.