Mountain Pacific Investment Advisers Inc. ID Sells 305 Shares of nVent Electric plc (NYSE:NVT)

Mountain Pacific Investment Advisers Inc. ID cut its stake in nVent Electric plc (NYSE:NVT) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,996 shares of the company’s stock after selling 305 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in nVent Electric were worth $3,722,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new position in nVent Electric in the fourth quarter valued at approximately $2,492,000. Citigroup Inc. lifted its stake in nVent Electric by 73.9% in the third quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock valued at $3,782,000 after buying an additional 30,325 shares during the period. Mariner LLC lifted its stake in nVent Electric by 10.1% in the third quarter. Mariner LLC now owns 24,649 shares of the company’s stock valued at $1,306,000 after buying an additional 2,263 shares during the period. LPL Financial LLC lifted its stake in nVent Electric by 2.0% in the third quarter. LPL Financial LLC now owns 172,171 shares of the company’s stock valued at $9,123,000 after buying an additional 3,418 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in nVent Electric by 217.5% in the fourth quarter. Vontobel Holding Ltd. now owns 25,874 shares of the company’s stock valued at $1,529,000 after buying an additional 17,724 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

nVent Electric Price Performance

Shares of NYSE:NVT opened at $75.69 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. nVent Electric plc has a twelve month low of $40.19 and a twelve month high of $78.98. The stock’s 50 day moving average is $71.51 and its 200-day moving average is $61.17. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.63 and a beta of 1.35.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. During the same period in the prior year, the firm earned $0.66 earnings per share. nVent Electric’s revenue for the quarter was up 16.1% on a year-over-year basis. Sell-side analysts forecast that nVent Electric plc will post 3.24 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.55%.

Insider Activity at nVent Electric

In related news, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the sale, the director now directly owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the sale, the director now directly owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The disclosure for this sale can be found here. In the last three months, insiders sold 400,252 shares of company stock valued at $25,713,777. 2.50% of the stock is owned by 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.