OneAscent Financial Services LLC Has $590,000 Stock Position in nVent Electric plc (NYSE:NVT)

OneAscent Financial Services LLC lowered its stake in nVent Electric plc (NYSE:NVT) by 33.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,397 shares of the company’s stock after selling 4,205 shares during the quarter. OneAscent Financial Services LLC’s holdings in nVent Electric were worth $590,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. grew its stake in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric during the third quarter worth $29,000. ORG Partners LLC acquired a new stake in shares of nVent Electric during the second quarter worth $31,000. First Foundation Advisors acquired a new stake in nVent Electric in the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of nVent Electric in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Barclays decreased their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp lifted their price objective 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average price target of $85.33.

nVent Electric Stock Performance

Shares of NVT stock opened at $73.39 on Tuesday. The company has a market capitalization of $12.10 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 3.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a 50-day simple moving average of $71.40 and a 200 day simple moving average of $73.24. nVent Electric plc has a 52 week low of $52.26 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. On average, sell-side analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.29%.

Insider Buying and Selling at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,824 shares of company stock valued at $6,841,316 in the last quarter. Company insiders own 2.50% of the company’s stock.

nVent Electric Company Profile

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.