nVent Electric plc (NYSE:NVT) Shares Sold by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 78.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,035 shares of the company’s stock after selling 10,875 shares during the period. Sherbrooke Park Advisers LLC’s holdings in nVent Electric were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quadrant Capital Group LLC boosted its position in shares of nVent Electric by 4.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after buying an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares in the last quarter. Calamos Advisors LLC raised its holdings in nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares in the last quarter. Utah Retirement Systems raised its holdings in nVent Electric by 2.3% during the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock worth $608,000 after purchasing an additional 200 shares in the last quarter. Finally, Hancock Whitney Corp raised its holdings in nVent Electric by 1.4% during the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after purchasing an additional 206 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Price Performance

NYSE NVT opened at $66.00 on Wednesday. The stock has a market capitalization of $10.87 billion, a P/E ratio of 33.67, a P/E/G ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. The business’s fifty day moving average is $55.56 and its two-hundred day moving average is $64.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million for the quarter, compared to analysts’ expectations of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. On average, research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. nVent Electric’s dividend payout ratio is currently 22.86%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NVT shares. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. KeyCorp boosted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada boosted their target price on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, Barclays boosted their target price on nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average price target of $70.00.

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.