Needham Investment Management LLC Purchases 42,500 Shares of nVent Electric plc (NYSE:NVT)

Needham Investment Management LLC grew its position in shares of nVent Electric plc (NYSE:NVT) by 38.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,500 shares of the company’s stock after buying an additional 42,500 shares during the period. Needham Investment Management LLC owned 0.09% of nVent Electric worth $10,715,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NVT. Cetera Investment Advisers increased its stake in shares of nVent Electric by 143.8% in the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares in the last quarter. Cetera Advisors LLC raised its holdings in nVent Electric by 58.6% during the 1st quarter. Cetera Advisors LLC now owns 8,596 shares of the company’s stock valued at $648,000 after acquiring an additional 3,177 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of nVent Electric by 15.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after acquiring an additional 272 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of nVent Electric by 494.3% in the second quarter. Versant Capital Management Inc now owns 523 shares of the company’s stock worth $40,000 after acquiring an additional 435 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in shares of nVent Electric by 8.6% in the second quarter. Fulton Bank N.A. now owns 9,337 shares of the company’s stock worth $715,000 after acquiring an additional 739 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 0.0 %

NVT stock traded down $0.02 during trading on Tuesday, hitting $77.47. 110,648 shares of the company traded hands, compared to its average volume of 1,575,019. The company has a 50-day moving average of $73.72 and a 200-day moving average of $73.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 1 year low of $53.49 and a 1 year high of $86.57. The firm has a market capitalization of $12.77 billion, a PE ratio of 22.72, a P/E/G ratio of 4.03 and a beta of 1.25.

nVent Electric (NYSE:NVT) last issued its 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the prior year, the business posted $0.84 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Analyst Upgrades and Downgrades

NVT has been the subject of several analyst reports. Royal Bank of Canada cut their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Barclays reduced their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $85.33.

Insider Transactions at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

About nVent Electric

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.