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

Townsquare Capital LLC decreased its holdings in shares of nVent Electric plc (NYSE:NVT) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 73,557 shares of the company’s stock after selling 9,109 shares during the period. Townsquare Capital LLC’s holdings in nVent Electric were worth $5,168,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NVT. Price T Rowe Associates Inc. MD lifted its stake in nVent Electric by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 100,384 shares of the company’s stock valued at $7,569,000 after buying an additional 5,305 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of nVent Electric by 18.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,539 shares of the company’s stock valued at $568,000 after acquiring an additional 1,167 shares during the last quarter. Tidal Investments LLC raised its position in shares of nVent Electric by 80.0% in the 1st quarter. Tidal Investments LLC now owns 27,050 shares of the company’s stock valued at $2,040,000 after acquiring an additional 12,021 shares during the period. Virtu Financial LLC bought a new position in nVent Electric during the 1st quarter worth approximately $1,125,000. Finally, LRI Investments LLC acquired a new position in nVent Electric during the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NVT shares. Barclays cut their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. KeyCorp raised their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada decreased 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Trading Down 1.9 %

Shares of NYSE:NVT opened at $76.54 on Friday. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 4.03 and a beta of 1.26. nVent Electric plc has a 12 month low of $52.26 and a 12 month high of $86.57. The company’s fifty day simple moving average is $73.42 and its 200 day simple moving average is $73.22. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last released its quarterly 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). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. As a group, research analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio is currently 22.29%.

Insider Transactions at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

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.