Parametric Portfolio Associates LLC grew its position in shares of nVent Electric PLC (NYSE:NVT) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 337,827 shares of the company’s stock after purchasing an additional 7,589 shares during the period. Parametric Portfolio Associates LLC’s holdings in nVent Electric were worth $9,115,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of nVent Electric by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,555 shares of the company’s stock valued at $5,828,000 after purchasing an additional 51,761 shares during the period. Vanguard Group Inc grew its position in shares of nVent Electric by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 14,253,847 shares of the company’s stock valued at $387,135,000 after purchasing an additional 174,628 shares during the period. Bank of Montreal Can grew its position in shares of nVent Electric by 24.8% in the 4th quarter. Bank of Montreal Can now owns 60,839 shares of the company’s stock valued at $1,367,000 after purchasing an additional 12,084 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of nVent Electric in the 4th quarter valued at approximately $156,000. Finally, Rhumbline Advisers grew its position in shares of nVent Electric by 45.1% in the 4th quarter. Rhumbline Advisers now owns 415,303 shares of the company’s stock valued at $9,328,000 after purchasing an additional 129,074 shares during the period. Hedge funds and other institutional investors own 86.12% of the company’s stock.
NVT has been the subject of several research analyst reports. KeyCorp reiterated a “buy” rating and issued a $30.00 price objective (up from $29.00) on shares of nVent Electric in a research report on Wednesday, February 27th. Zacks Investment Research upgraded nVent Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine lowered nVent Electric from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, Buckingham Research initiated coverage on nVent Electric in a research report on Tuesday, March 26th. They issued a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. nVent Electric currently has an average rating of “Hold” and a consensus price target of $28.67.
nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $538.00 million during the quarter, compared to analyst estimates of $546.43 million. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. nVent Electric’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts forecast that nVent Electric PLC will post 1.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, July 18th. nVent Electric’s payout ratio is 40.23%.
In other news, Director Michael L. Ducker bought 2,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average price of $24.07 per share, for a total transaction of $48,140.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 3,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $24.53, for a total value of $73,590,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,015,786 shares of company stock worth $101,315,702 in the last 90 days. Company insiders own 1.60% of the company’s stock.
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About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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