Townsquare Capital LLC Sells 9,109 Shares of nVent Electric plc (NYSE:NVT)

Townsquare Capital LLC cut its holdings in nVent Electric plc (NYSE:NVT) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,557 shares of the company’s stock after selling 9,109 shares during the quarter. Townsquare Capital LLC’s holdings in nVent Electric were worth $5,168,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NVT. Signaturefd LLC lifted its position in shares of nVent Electric by 22.0% in the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after acquiring an additional 155 shares during the period. CIBC Asset Management Inc lifted its position in nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after purchasing an additional 166 shares during the period. Larson Financial Group LLC boosted its stake in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Huntington National Bank increased its holdings in nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in nVent Electric by 15.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Barclays dropped their target price 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 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 target price of $85.33.

Insider Buying and Selling at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction that occurred 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 owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Down 1.9 %

Shares of NVT opened at $76.54 on Friday. The company has a market capitalization of $12.62 billion, a P/E ratio of 22.45, a PEG ratio of 4.03 and a beta of 1.26. nVent Electric plc has a one year low of $52.26 and a one year high of $86.57. The business’s 50 day simple moving average is $73.42 and its 200-day simple moving average is $73.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

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

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.29%.

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.