Citizens Financial Group Inc RI Sells 1,839 Shares of nVent Electric plc (NYSE:NVT)

Citizens Financial Group Inc RI lessened its stake in nVent Electric plc (NYSE:NVTGet Rating) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,851 shares of the company’s stock after selling 1,839 shares during the period. Citizens Financial Group Inc RI’s holdings in nVent Electric were worth $298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVT. OLD Mission Capital LLC bought a new position in shares of nVent Electric during the 3rd quarter worth $537,000. Morgan Stanley increased its position in nVent Electric by 124.6% during the 2nd quarter. Morgan Stanley now owns 351,308 shares of the company’s stock valued at $10,976,000 after purchasing an additional 194,925 shares during the period. Deutsche Bank AG raised its holdings in shares of nVent Electric by 2.4% in the 3rd quarter. Deutsche Bank AG now owns 17,666 shares of the company’s stock valued at $571,000 after purchasing an additional 420 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of nVent Electric by 13.1% in the 3rd quarter. Advisor Group Holdings Inc. now owns 32,423 shares of the company’s stock worth $1,050,000 after purchasing an additional 3,746 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of nVent Electric during the third quarter valued at approximately $215,000. Institutional investors own 88.44% of the company’s stock.

In other news, Director Ronald Merriman sold 3,947 shares of the business’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $35.17, for a total transaction of $138,815.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Shares of NVT opened at $34.30 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.71 billion, a PE ratio of 21.17 and a beta of 1.44. nVent Electric plc has a 12 month low of $28.27 and a 12 month high of $39.53. The stock has a fifty day moving average price of $34.65 and a 200-day moving average price of $35.48.

nVent Electric (NYSE:NVTGet Rating) last announced its earnings results on Friday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $694.70 million for the quarter, compared to analyst estimates of $627.83 million. nVent Electric had a return on equity of 13.68% and a net margin of 10.56%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. As a group, research analysts forecast that nVent Electric plc will post 2.22 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Friday, July 22nd will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, July 21st. nVent Electric’s dividend payout ratio (DPR) is presently 43.21%.

NVT has been the subject of a number of analyst reports. Zacks Investment Research upgraded nVent Electric from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Wednesday, May 4th. Barclays dropped their price objective on nVent Electric from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.60.

nVent Electric Company Profile (Get Rating)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

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

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