Principal Street Partners LLC Has $393,000 Position in nVent Electric plc (NYSE:NVT)

Principal Street Partners LLC decreased its position in shares of nVent Electric plc (NYSE:NVT) by 34.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,130 shares of the company’s stock after selling 2,650 shares during the quarter. Principal Street Partners LLC’s holdings in nVent Electric were worth $393,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after purchasing an additional 673,990 shares in the last quarter. Boston Partners boosted its position in nVent Electric by 3.2% in the first quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after buying an additional 102,643 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after buying an additional 28,876 shares in the last quarter. Swedbank AB acquired a new stake in shares of nVent Electric during the 3rd quarter valued at $110,663,000. Finally, Millennium Management LLC increased its holdings in nVent Electric by 159.9% in the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after purchasing an additional 828,425 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

nVent Electric Price Performance

Shares of NYSE NVT opened at $78.01 on Wednesday. The company has a market capitalization of $12.86 billion, a PE ratio of 22.88, a P/E/G ratio of 4.03 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The firm has a fifty day simple moving average of $73.11 and a 200 day simple moving average of $73.18.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period last year, the business posted $0.84 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

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

Insider Activity

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value 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 trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 in the last quarter. 2.50% of the stock is owned by corporate insiders.

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.