Yousif Capital Management LLC Reduces Stock Position in nVent Electric plc (NYSE:NVT)

Yousif Capital Management LLC decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,734 shares of the company’s stock after selling 2,777 shares during the quarter. Yousif Capital Management LLC’s holdings in nVent Electric were worth $4,071,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in shares of nVent Electric during the 4th quarter worth $26,000. Larson Financial Group LLC increased its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric during the third quarter worth about $29,000. UMB Bank n.a. boosted its holdings in nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Up 3.1 %

NVT opened at $67.85 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm has a market cap of $11.18 billion, a P/E ratio of 19.90, a P/E/G ratio of 3.02 and a beta of 1.26. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The business has a fifty day simple moving average of $70.89 and a 200-day simple moving average of $70.36.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. On average, equities analysts expect that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a dividend of $0.20 per share. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, January 17th. nVent Electric’s dividend payout ratio is presently 23.46%.

Insiders Place Their Bets

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Citigroup reduced their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays increased their price target on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada boosted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric has an average rating of “Buy” and a consensus price target of $86.33.

About nVent Electric

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.