SeaBridge Investment Advisors LLC Reduces Position in nVent Electric PLC (NVT)

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SeaBridge Investment Advisors LLC reduced its position in shares of nVent Electric PLC (NYSE:NVT) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 185,526 shares of the company’s stock after selling 9,400 shares during the quarter. nVent Electric comprises about 1.3% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 26th biggest position. SeaBridge Investment Advisors LLC owned approximately 0.10% of nVent Electric worth $5,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Seven Eight Capital LP raised its stake in shares of nVent Electric by 65.7% in the third quarter. Seven Eight Capital LP now owns 60,000 shares of the company’s stock worth $1,630,000 after purchasing an additional 23,800 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in shares of nVent Electric in the third quarter worth approximately $114,000. Oakbrook Investments LLC purchased a new stake in shares of nVent Electric in the third quarter worth approximately $280,000. Aperio Group LLC raised its stake in shares of nVent Electric by 7.0% in the third quarter. Aperio Group LLC now owns 103,950 shares of the company’s stock worth $2,823,000 after purchasing an additional 6,843 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of nVent Electric by 36.5% in the third quarter. Bank of Montreal Can now owns 48,755 shares of the company’s stock worth $1,324,000 after purchasing an additional 13,037 shares during the last quarter. 81.63% of the stock is currently owned by institutional investors and hedge funds.

Shares of nVent Electric stock traded up $0.04 on Friday, hitting $24.75. The company had a trading volume of 19,334 shares, compared to its average volume of 1,238,503. nVent Electric PLC has a 1 year low of $21.00 and a 1 year high of $29.84. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.12 and a quick ratio of 1.53.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, July 26th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $542.70 million during the quarter, compared to analysts’ expectations of $542.50 million. nVent Electric’s revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that nVent Electric PLC will post 1.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 2nd. Investors of record on Friday, October 19th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, October 18th.

Separately, Barclays reissued a “hold” rating and issued a $25.00 price objective on shares of nVent Electric in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.25.

In related news, Director William T. Monahan sold 17,133 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $28.08, for a total transaction of $481,094.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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