HM Payson & Co. Has $30.80 Million Holdings in nVent Electric plc (NYSE:NVT)

HM Payson & Co. lifted its stake in shares of nVent Electric plc (NYSE:NVT) by 109,496.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 438,386 shares of the company’s stock after acquiring an additional 437,986 shares during the quarter. HM Payson & Co.’s holdings in nVent Electric were worth $30,801,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NVT. UMB Bank n.a. lifted 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 acquiring an additional 308 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in nVent Electric during the third quarter worth about $29,000. ORG Partners LLC bought a new position in nVent Electric in the 2nd quarter valued at $31,000. First Foundation Advisors acquired a new stake in nVent Electric in the second quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of nVent Electric during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays dropped their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $85.67.

Insiders Place Their Bets

In other news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now owns 19,766 shares in the company, valued at $1,251,978.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT traded down $0.84 during mid-day trading on Thursday, reaching $73.73. The company’s stock had a trading volume of 231,841 shares, compared to its average volume of 1,518,049. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a market cap of $12.24 billion, a P/E ratio of 21.74, a PEG ratio of 1.50 and a beta of 1.27. nVent Electric plc has a 1-year low of $47.08 and a 1-year high of $86.57. The business has a 50-day simple moving average of $69.27 and a two-hundred day simple moving average of $73.15.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. As a group, equities research analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.16%.

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.