MetLife Investment Management LLC Sells 1,520 Shares of nVent Electric plc (NYSE:NVT)

MetLife Investment Management LLC lowered its position in nVent Electric plc (NYSE:NVT) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,888 shares of the company’s stock after selling 1,520 shares during the period. MetLife Investment Management LLC owned 0.05% of nVent Electric worth $6,034,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NVT. Larson Financial Group LLC boosted its stake in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. increased its position in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the period. ORG Wealth Partners LLC acquired a new stake in nVent Electric in the 3rd quarter worth about $29,000. ORG Partners LLC acquired a new stake in shares of nVent Electric in the second quarter valued at approximately $31,000. Finally, First Foundation Advisors bought a new stake in shares of nVent Electric during the 2nd quarter valued at $34,000. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm’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 transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by company insiders.

nVent Electric Stock Performance

nVent Electric stock opened at $78.31 on Friday. The business has a 50 day moving average of $73.57 and a 200-day moving average of $73.15. The company has a market capitalization of $12.91 billion, a P/E ratio of 22.96, a P/E/G ratio of 3.94 and a beta of 1.26. nVent Electric plc has a 1 year low of $52.70 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.

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

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.29%.

Wall Street Analyst Weigh In

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

nVent Electric Company 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.