Advisors Asset Management Inc. Buys 301 Shares of nVent Electric plc (NYSE:NVT)

Advisors Asset Management Inc. grew its stake in nVent Electric plc (NYSE:NVT) by 5.1% during the third quarter, Holdings Channel reports. The firm owned 6,153 shares of the company’s stock after purchasing an additional 301 shares during the period. Advisors Asset Management Inc.’s holdings in nVent Electric were worth $432,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in nVent Electric during the third quarter worth $2,877,000. Commerce Bank lifted its holdings in nVent Electric by 1.5% during the third quarter. Commerce Bank now owns 834,042 shares of the company’s stock worth $58,600,000 after acquiring an additional 12,302 shares during the period. Banque Cantonale Vaudoise lifted its holdings in nVent Electric by 152.3% during the third quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company’s stock worth $114,000 after acquiring an additional 978 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in nVent Electric by 7.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,399 shares of the company’s stock worth $450,000 after acquiring an additional 453 shares during the period. Finally, Whalen Wealth Management Inc. bought a new stake in nVent Electric during the third quarter worth $768,000. Institutional investors own 90.05% of the company’s stock.

Insider Activity

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was 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 in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by corporate insiders.

nVent Electric Stock Performance

NYSE:NVT opened at $76.53 on Thursday. 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 business has a fifty day simple moving average of $73.30 and a two-hundred day simple moving average of $73.20. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57. The company has a market capitalization of $12.61 billion, a P/E ratio of 22.44, a P/E/G ratio of 4.03 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced 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). The company had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada dropped their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Barclays dropped their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, KeyCorp raised their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.33.

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.