nVent Electric plc (NYSE:NVT) Stock Position Decreased by Amalgamated Bank

Amalgamated Bank decreased its position in nVent Electric plc (NYSE:NVT) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,006 shares of the company’s stock after selling 1,025 shares during the quarter. Amalgamated Bank owned about 0.07% of nVent Electric worth $6,796,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVT. Commonwealth Equity Services LLC increased its stake in shares of nVent Electric by 9.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company’s stock worth $825,000 after purchasing an additional 1,325 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of nVent Electric by 3.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock worth $472,000 after buying an additional 307 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of nVent Electric during the 3rd quarter worth about $153,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of nVent Electric by 9.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,585 shares of the company’s stock valued at $1,727,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Baystate Wealth Management LLC bought a new position in shares of nVent Electric in the 3rd quarter valued at approximately $33,000. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other news, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the sale, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the transaction, the insider now owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock worth $25,713,777 over the last three months. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

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

nVent Electric Stock Performance

NVT opened at $75.89 on Monday. The stock has a market cap of $12.59 billion, a PE ratio of 22.13, a P/E/G ratio of 1.63 and a beta of 1.35. nVent Electric plc has a 1 year low of $40.22 and a 1 year high of $78.98. The stock’s 50 day simple moving average is $72.41 and its 200-day simple moving average is $61.98. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. During the same quarter in the prior year, the company posted $0.67 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Sell-side analysts forecast that nVent Electric plc will post 3.25 EPS for the current year.

nVent Electric Dividend Announcement

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 paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is 22.16%.

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.