nVent Electric plc (NYSE:NVT) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its holdings in nVent Electric plc (NYSE:NVT – Get Rating) by 29.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 48,569 shares of the company’s stock after selling 20,413 shares during the period. Citigroup Inc.’s holdings in nVent Electric were worth $1,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NVT. Raymond James Financial Services Advisors Inc. lifted its stake in nVent Electric by 9.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock valued at $383,000 after buying an additional 923 shares in the last quarter. AlphaCrest Capital Management LLC lifted its stake in nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after buying an additional 3,093 shares in the last quarter. Natixis Advisors L.P. lifted its stake in nVent Electric by 15.4% during the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock valued at $1,514,000 after buying an additional 5,807 shares in the last quarter. Bank of Montreal Can lifted its stake in nVent Electric by 10.6% during the first quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock valued at $768,000 after buying an additional 2,072 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock valued at $2,144,000 after buying an additional 5,879 shares in the last quarter. 87.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Joseph A. Ruzynski sold 3,200 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $43.41, for a total value of $138,912.00. Following the transaction, the insider now owns 36,022 shares in the company, valued at $1,563,715.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other nVent Electric news, Director Greg Scheu acquired 4,700 shares of nVent Electric stock in a transaction dated Monday, May 22nd. The stock was bought at an average cost of $43.23 per share, with a total value of $203,181.00. Following the completion of the transaction, the director now owns 16,828 shares of the company’s stock, valued at $727,474.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph A. Ruzynski sold 3,200 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $43.41, for a total value of $138,912.00. Following the completion of the sale, the insider now directly owns 36,022 shares of the company’s stock, valued at $1,563,715.02. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

Shares of NVT opened at $43.58 on Friday. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 17.23 and a beta of 1.31. nVent Electric plc has a fifty-two week low of $29.19 and a fifty-two week high of $46.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.08 and a quick ratio of 1.47. The business’s 50-day moving average is $42.21 and its 200-day moving average is $41.28.

nVent Electric (NYSE:NVT – Get Rating) last released its quarterly earnings data on Friday, April 28th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. nVent Electric had a return on equity of 16.08% and a net margin of 14.41%. The firm had revenue of $741.00 million for the quarter, compared to the consensus estimate of $740.70 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that nVent Electric plc will post 2.75 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 21st will be issued a $0.175 dividend. The ex-dividend date is Thursday, July 20th. This represents a $0.70 dividend on an annualized basis and a yield of 1.61%. nVent Electric’s dividend payout ratio is currently 27.67%.

Wall Street Analyst Weigh In

A number of analysts have commented on NVT shares. Royal Bank of Canada upped their price objective on shares of nVent Electric from $50.00 to $53.00 in a research note on Monday. Barclays upped their target price on nVent Electric from $53.00 to $55.00 in a report on Monday, May 1st.

nVent Electric Profile

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nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.