nVent Electric PLC $NVT Position Reduced by Running Oak Capital LLC

Running Oak Capital LLC cut its holdings in nVent Electric PLC (NYSE:NVT) by 15.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 203,139 shares of the company’s stock after selling 36,264 shares during the period. nVent Electric comprises approximately 2.2% of Running Oak Capital LLC’s portfolio, making the stock its 2nd largest holding. Running Oak Capital LLC’s holdings in nVent Electric were worth $20,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of nVent Electric by 33.1% in the 1st quarter. AQR Capital Management LLC now owns 94,968 shares of the company’s stock valued at $4,841,000 after acquiring an additional 23,606 shares during the last quarter. Jones Financial Companies Lllp lifted its position in nVent Electric by 575.6% in the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company’s stock valued at $461,000 after purchasing an additional 7,500 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of nVent Electric by 436.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company’s stock valued at $56,000 after purchasing an additional 872 shares during the period. QRG Capital Management Inc. grew its holdings in shares of nVent Electric by 6.2% in the second quarter. QRG Capital Management Inc. now owns 4,637 shares of the company’s stock worth $340,000 after purchasing an additional 269 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in shares of nVent Electric in the second quarter worth $48,443,000. 90.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVT has been the subject of several analyst reports. Barclays increased their price target on shares of nVent Electric from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Roth Mkm reissued a “buy” rating and issued a $130.00 target price (up from $115.00) on shares of nVent Electric in a research note on Monday, November 3rd. Citigroup upped their price target on nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of nVent Electric in a research note on Monday, December 29th. Finally, UBS Group initiated coverage on shares of nVent Electric in a report on Thursday, November 20th. They issued a “buy” rating and a $128.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $123.63.

Insider Buying and Selling

In other nVent Electric news, insider Sara E. Zawoyski sold 115,557 shares of nVent Electric stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $112.78, for a total transaction of $13,032,518.46. Following the completion of the transaction, the insider owned 66,680 shares in the company, valued at approximately $7,520,170.40. The trade was a 63.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Beth Wozniak sold 4,137 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $110.35, for a total value of $456,517.95. Following the completion of the sale, the chief executive officer directly owned 47,984 shares in the company, valued at approximately $5,295,034.40. This represents a 7.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 130,285 shares of company stock worth $14,621,124 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $115.75 on Tuesday. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $117.52. The firm has a market capitalization of $18.68 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.20 and a beta of 1.33. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $106.69 and a two-hundred day simple moving average of $99.47.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. nVent Electric had a net margin of 16.83% and a return on equity of 14.29%. nVent Electric’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. On average, equities analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, January 23rd. This is an increase from nVent Electric’s previous quarterly dividend of $0.20. nVent Electric’s dividend payout ratio (DPR) is currently 23.14%.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.