Wellington Management Group LLP Trims Stock Position in nVent Electric plc (NYSE:NVT)

Wellington Management Group LLP lowered its holdings in shares of nVent Electric plc (NYSE:NVT) by 27.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 326,388 shares of the company’s stock after selling 126,199 shares during the quarter. Wellington Management Group LLP owned approximately 0.20% of nVent Electric worth $22,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Larson Financial Group LLC grew its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. ORG Partners LLC bought a new position in shares of nVent Electric during the 2nd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in shares of nVent Electric during the 3rd quarter valued at approximately $29,000. UMB Bank n.a. grew its stake 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. Finally, First Foundation Advisors bought a new position in shares of nVent Electric during the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity

In other news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

NVT has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Citigroup boosted their price objective on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays upped 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. Finally, KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $85.50.

nVent Electric Trading Down 0.8 %

NVT stock opened at $74.97 on Friday. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 3.88 and a beta of 1.25. The business has a 50 day simple moving average of $74.85 and a two-hundred day simple moving average of $72.85.

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

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. nVent Electric’s dividend payout ratio is currently 22.29%.

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.