nVent Electric PLC $NVT Stock Sold by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC cut its position in nVent Electric PLC (NYSE:NVT) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,828 shares of the company’s stock after selling 4,889 shares during the quarter. nVent Electric accounts for 2.0% of Mountain Pacific Investment Advisers LLC’s holdings, making the stock its 13th largest holding. Mountain Pacific Investment Advisers LLC’s holdings in nVent Electric were worth $12,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its position in nVent Electric by 16.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,540 shares of the company’s stock valued at $12,982,000 after acquiring an additional 11,033 shares in the last quarter. State Street Corp increased its stake in nVent Electric by 4.9% during the second quarter. State Street Corp now owns 5,313,122 shares of the company’s stock worth $901,159,000 after purchasing an additional 250,248 shares during the period. Alua Capital Management LP acquired a new stake in shares of nVent Electric during the first quarter worth about $27,394,000. Engineers Gate Manager LP lifted its position in shares of nVent Electric by 327.1% during the second quarter. Engineers Gate Manager LP now owns 33,538 shares of the company’s stock worth $5,688,000 after purchasing an additional 25,686 shares in the last quarter. Finally, Moore Capital Management LP acquired a new stake in shares of nVent Electric during the second quarter worth about $4,099,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robert van der Kolk sold 5,858 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $164.32, for a total value of $962,586.56. Following the sale, the insider owned 27,387 shares of the company’s stock, valued at $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NVT has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 price objective on shares of nVent Electric in a research note on Saturday, August 1st. Zacks Research downgraded shares of nVent Electric from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. JPMorgan Chase & Co. assumed coverage on shares of nVent Electric in a report on Tuesday, October 20th. They set an “overweight” rating and a $167.00 target price on the stock. BMO Capital Markets started coverage on shares of nVent Electric in a report on Sunday, October 4th. They set an “outperform” rating and a $212.00 target price on the stock. Finally, Citigroup decreased their price target on shares of nVent Electric from $228.00 to $200.00 and set a “buy” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $197.82.

nVent Electric Price Performance

Shares of NYSE NVT opened at $129.28 on Wednesday. The stock’s 50-day moving average is $151.83 and its two-hundred day moving average is $144.56. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.40 and a quick ratio of 1.93. nVent Electric PLC has a 1-year low of $93.22 and a 1-year high of $184.64. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.39.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.43 billion. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. nVent Electric’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Analysts forecast that nVent Electric PLC will post 5.39 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, October 23rd. nVent Electric’s dividend payout ratio is presently 20.24%.

nVent Electric Company Profile

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.