Wolverine Asset Management LLC Cuts Stake in nVent Electric plc (NYSE:NVT)

Wolverine Asset Management LLC lowered its position in shares of nVent Electric plc (NYSE:NVT) by 53.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,000 shares of the company’s stock after selling 24,000 shares during the period. Wolverine Asset Management LLC’s holdings in nVent Electric were worth $1,241,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVT. CWM LLC increased its stake in shares of nVent Electric by 82.3% in the 3rd quarter. CWM LLC now owns 2,850 shares of the company’s stock worth $151,000 after acquiring an additional 1,287 shares in the last quarter. IFP Advisors Inc increased its stake in nVent Electric by 2,003.0% during the 3rd quarter. IFP Advisors Inc now owns 3,533 shares of the company’s stock valued at $187,000 after purchasing an additional 3,365 shares in the last quarter. SG Americas Securities LLC increased its stake in nVent Electric by 160.6% during the 3rd quarter. SG Americas Securities LLC now owns 31,658 shares of the company’s stock valued at $1,678,000 after purchasing an additional 19,509 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in nVent Electric by 1.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 44,798 shares of the company’s stock valued at $2,374,000 after purchasing an additional 645 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in nVent Electric by 100.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 49,200 shares of the company’s stock valued at $2,607,000 after purchasing an additional 24,600 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock valued at $25,713,777 over the last three months. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVT shares. Royal Bank of Canada raised their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Citigroup raised their price target on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Barclays raised their price target on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group raised their price target on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

nVent Electric Trading Up 1.0 %

nVent Electric stock opened at $74.45 on Friday. The stock has a market cap of $12.36 billion, a P/E ratio of 22.09, a PEG ratio of 1.59 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. nVent Electric plc has a 1 year low of $40.19 and a 1 year high of $78.98. The firm’s 50 day moving average price is $71.27 and its 200-day moving average price is $60.95.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The firm had revenue of $861.20 million for the quarter, compared to analysts’ expectations of $866.90 million. During the same quarter last year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities analysts predict that nVent Electric plc will post 3.24 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is presently 22.55%.

nVent Electric 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.