Avior Wealth Management LLC Cuts Position in nVent Electric plc (NYSE:NVT)

Avior Wealth Management LLC trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,610 shares of the company’s stock after selling 297 shares during the quarter. Avior Wealth Management LLC’s holdings in nVent Electric were worth $587,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVT. Larson Financial Group LLC increased its position in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. grew its position in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new stake in nVent Electric during the third quarter worth about $29,000. Huntington National Bank raised its position in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares during the period. Finally, Anchor Investment Management LLC boosted its stake in nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after acquiring an additional 280 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Price Performance

nVent Electric stock opened at $74.81 on Friday. 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 plc has a one year low of $56.44 and a one year high of $86.57. The firm has a market capitalization of $12.33 billion, a P/E ratio of 21.94, a PEG ratio of 3.49 and a beta of 1.27. The business has a fifty day moving average price of $73.12 and a 200-day moving average price of $71.18.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the previous year, the firm earned $0.84 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.07%. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is presently 23.46%.

Insider Activity

In other news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada upped their price target on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $86.17.

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.