nVent Electric PLC (NVT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of nVent Electric PLC (NYSE:NVT) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,229 shares of the company’s stock after selling 4,691 shares during the quarter. Rhumbline Advisers’ holdings in nVent Electric were worth $7,774,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can bought a new position in shares of nVent Electric during the second quarter worth $896,000. Texas Permanent School Fund bought a new position in shares of nVent Electric during the second quarter worth $2,630,000. Janney Montgomery Scott LLC bought a new position in shares of nVent Electric during the second quarter worth $813,000. BNP Paribas Arbitrage SA bought a new position in shares of nVent Electric during the second quarter worth $1,070,000. Finally, BB&T Corp bought a new position in shares of nVent Electric during the second quarter worth $937,000. 85.77% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on NVT shares. Goldman Sachs Group raised shares of nVent Electric from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $31.00 to $30.00 in a research report on Friday, October 26th. Zacks Investment Research cut shares of nVent Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, Vertical Research started coverage on shares of nVent Electric in a research report on Tuesday, November 20th. They set a “hold” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.50.

In related news, Director William T. Monahan sold 17,133 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total value of $481,094.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Randall J. Hogan sold 21,082 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $25.35, for a total transaction of $534,428.70. The disclosure for this sale can be found here.

NVT opened at $25.02 on Friday. nVent Electric PLC has a 12 month low of $21.00 and a 12 month high of $29.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.41 and a current ratio of 1.96.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, October 25th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.07). The company had revenue of $563.90 million for the quarter, compared to analyst estimates of $558.40 million. On average, equities research analysts anticipate that nVent Electric PLC will post 1.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 2nd. Investors of record on Friday, October 19th were given a $0.175 dividend. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $0.70 annualized dividend and a yield of 2.80%.

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nVent Electric 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.

See Also: Initial Public Offering (IPO)

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

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