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Aug 30, 2023

nVent Electric plc (NYSE:NVT) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. decreased its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 15.8% during the 1st quarter, according to its most recent disclosure with

Vaughan Nelson Investment Management L.P. decreased its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 15.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 738,770 shares of the company's stock after selling 138,777 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.45% of nVent Electric worth $31,722,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in nVent Electric by 56.4% during the 4th quarter. Fifth Third Bancorp now owns 818 shares of the company's stock valued at $31,000 after buying an additional 295 shares during the period. Ameritas Advisory Services LLC acquired a new stake in nVent Electric during the first quarter worth $66,000. CWM LLC boosted its stake in nVent Electric by 395.4% during the fourth quarter. CWM LLC now owns 2,824 shares of the company's stock worth $109,000 after buying an additional 2,254 shares in the last quarter. Mendota Financial Group LLC acquired a new stake in shares of nVent Electric in the 4th quarter valued at $157,000. Finally, Captrust Financial Advisors boosted its stake in shares of nVent Electric by 16.2% in the 2nd quarter. Captrust Financial Advisors now owns 5,375 shares of the company's stock valued at $168,000 after purchasing an additional 751 shares in the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

NYSE:NVT traded down $0.77 during midday trading on Friday, hitting $54.36. The stock had a trading volume of 1,361,492 shares, compared to its average volume of 1,141,643. nVent Electric plc has a one year low of $30.48 and a one year high of $56.34. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 20.05 and a beta of 1.33. The stock has a 50-day moving average of $50.10 and a 200 day moving average of $45.18. The company has a quick ratio of 1.32, a current ratio of 2.09 and a debt-to-equity ratio of 0.67.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.09. The business had revenue of $803.00 million during the quarter, compared to analyst estimates of $809.05 million. nVent Electric had a return on equity of 16.85% and a net margin of 15.14%. The business's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. As a group, sell-side analysts forecast that nVent Electric plc will post 2.91 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a $0.175 dividend. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.29%. nVent Electric's dividend payout ratio (DPR) is presently 25.74%.

In other news, Director Greg Scheu purchased 4,700 shares of nVent Electric stock in a transaction that occurred on Monday, May 22nd. The stock was acquired at an average price of $43.23 per share, for a total transaction of $203,181.00. Following the transaction, the director now owns 16,828 shares in the company, valued at $727,474.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Sara E. Zawoyski sold 2,178 shares of the business's stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $45.17, for a total transaction of $98,380.26. Following the transaction, the chief financial officer now owns 63,778 shares in the company, valued at approximately $2,880,852.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Greg Scheu bought 4,700 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $43.23 per share, for a total transaction of $203,181.00. Following the completion of the purchase, the director now directly owns 16,828 shares of the company's stock, valued at $727,474.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 27,293 shares of company stock worth $1,247,474. 2.40% of the stock is currently owned by corporate insiders.

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on nVent Electric from $55.00 to $58.00 in a report on Tuesday, May 30th. Barclays raised their price target on shares of nVent Electric from $55.00 to $69.00 and gave the stock an "overweight" rating in a research note on Monday. William Blair initiated coverage on shares of nVent Electric in a research note on Thursday, July 27th. They issued an "outperform" rating for the company. Finally, Royal Bank of Canada lifted their price objective on shares of nVent Electric from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday.

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; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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