Northwestern Mutual Wealth Management Co. cut its stake in shares of nVent Electric PLC (NYSE:NVT) by 20.9% in the 1st quarter, Holdings Channel reports. The fund owned 2,300 shares of the company’s stock after selling 609 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in nVent Electric were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of nVent Electric during the 1st quarter worth approximately $57,000. HCR Wealth Advisors purchased a new position in shares of nVent Electric during the 1st quarter worth approximately $422,000. Investors Research Corp purchased a new position in shares of nVent Electric during the 1st quarter worth approximately $101,000. Acadian Asset Management LLC purchased a new position in shares of nVent Electric during the 1st quarter worth approximately $108,000. Finally, ERTS Wealth Advisors LLC purchased a new position in shares of nVent Electric during the 4th quarter worth approximately $93,000. 86.12% of the stock is owned by hedge funds and other institutional investors.
NVT has been the subject of a number of analyst reports. Zacks Investment Research raised nVent Electric from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Thursday, May 16th. Buckingham Research set a $31.00 target price on nVent Electric and gave the stock a “buy” rating in a research note on Friday, April 26th. KeyCorp reissued a “buy” rating and set a $30.00 target price (up from $29.00) on shares of nVent Electric in a research note on Wednesday, February 27th. Finally, ValuEngine downgraded nVent Electric from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. nVent Electric currently has an average rating of “Hold” and an average price target of $28.67.
nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $538.00 million for the quarter, compared to analysts’ expectations of $546.43 million. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. The company’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities research analysts forecast that nVent Electric PLC will post 1.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, July 18th. nVent Electric’s dividend payout ratio is currently 40.23%.
In related news, Director Trian Fund Management, L.P. sold 366,901 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $26.03, for a total value of $9,550,433.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Ducker purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average price of $24.07 per share, for a total transaction of $48,140.00. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 4,015,786 shares of company stock worth $101,315,702. Insiders own 1.60% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Northwestern Mutual Wealth Management Co. Has $62,000 Holdings in nVent Electric PLC (NYSE:NVT)” was published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/06/16/northwestern-mutual-wealth-management-co-has-62000-holdings-in-nvent-electric-plc-nysenvt.html.
nVent Electric Company Profile
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.
Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT).
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.