Oppenheimer Asset Management Inc. Sells 14,502 Shares of nVent Electric plc (NYSE:NVT)

Oppenheimer Asset Management Inc. decreased its holdings in nVent Electric plc (NYSE:NVT) by 38.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,163 shares of the company’s stock after selling 14,502 shares during the period. Oppenheimer Asset Management Inc.’s holdings in nVent Electric were worth $1,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Federated Hermes Inc. raised its position in shares of nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in nVent Electric by 18.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after purchasing an additional 46,748 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of nVent Electric by 143.8% during the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock valued at $3,476,000 after buying an additional 27,196 shares during the last quarter. Gateway Investment Advisers LLC bought a new stake in shares of nVent Electric in the 2nd quarter valued at about $1,608,000. Finally, Virtu Financial LLC purchased a new position in shares of nVent Electric in the 1st quarter worth approximately $1,125,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $72.82 on Monday. 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’s fifty day moving average price is $71.40 and its 200-day moving average price is $73.23. nVent Electric plc has a 1-year low of $52.26 and a 1-year high of $86.57. The firm has a market capitalization of $12.00 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank of Canada decreased their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Barclays decreased their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, KeyCorp boosted their target price 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $85.33.

Insider Buying and Selling at nVent Electric

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

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.