Rempart Asset Management Inc. Sells 12,570 Shares of nVent Electric plc (NYSE:NVT)

Rempart Asset Management Inc. decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 4.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 300,750 shares of the company’s stock after selling 12,570 shares during the period. nVent Electric accounts for about 4.1% of Rempart Asset Management Inc.’s portfolio, making the stock its 13th largest holding. Rempart Asset Management Inc. owned 0.18% of nVent Electric worth $20,499,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System boosted its holdings in shares of nVent Electric by 1.4% during the second quarter. Arizona State Retirement System now owns 46,212 shares of the company’s stock worth $3,540,000 after acquiring an additional 616 shares during the period. Private Advisor Group LLC boosted its stake in nVent Electric by 23.4% in the 2nd quarter. Private Advisor Group LLC now owns 8,140 shares of the company’s stock valued at $624,000 after purchasing an additional 1,542 shares during the period. Oak Thistle LLC acquired a new position in nVent Electric in the 2nd quarter valued at $256,000. First Foundation Advisors bought a new position in nVent Electric during the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of nVent Electric during the second quarter worth $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the company’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 transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % 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 on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock valued at $7,365,956 in the last 90 days. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVT. KeyCorp upped their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays raised their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price target on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Citigroup raised their price objective on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $86.33.

nVent Electric Price Performance

Shares of NVT stock traded down $2.17 on Wednesday, hitting $68.23. 249,543 shares of the company’s stock were exchanged, compared to its average volume of 978,783. nVent Electric plc has a 12 month low of $55.19 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company has a 50 day moving average of $73.73 and a 200 day moving average of $71.54. The stock has a market cap of $11.25 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27.

nVent Electric (NYSE:NVT) last posted its quarterly 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). The company 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 company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. On average, equities research analysts predict that nVent Electric plc will post 2.5 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. Stockholders of record on Friday, January 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio is presently 23.46%.

nVent Electric Company 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.